Freestone Capital Holdings LLC Grows Stake in Novartis AG (NVS)

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Freestone Capital Holdings LLC grew its holdings in Novartis AG (NYSE:NVS) by 21.4% during the 1st quarter, Holdings Channel reports. The firm owned 29,319 shares of the company’s stock after buying an additional 5,164 shares during the period. Freestone Capital Holdings LLC’s holdings in Novartis were worth $2,819,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Novartis by 223.5% in the fourth quarter. BlackRock Inc. now owns 11,439,298 shares of the company’s stock valued at $981,607,000 after purchasing an additional 7,902,964 shares during the last quarter. Bank of America Corp DE grew its position in shares of Novartis by 25.1% in the fourth quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock valued at $776,909,000 after purchasing an additional 1,817,005 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Novartis by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 7,609,632 shares of the company’s stock valued at $652,983,000 after purchasing an additional 184,555 shares during the last quarter. Boston Partners grew its position in shares of Novartis by 26.1% in the fourth quarter. Boston Partners now owns 7,046,794 shares of the company’s stock valued at $604,685,000 after purchasing an additional 1,459,845 shares during the last quarter. Finally, FMR LLC grew its position in shares of Novartis by 441.6% in the fourth quarter. FMR LLC now owns 7,016,047 shares of the company’s stock valued at $602,046,000 after purchasing an additional 5,720,650 shares during the last quarter. Institutional investors and hedge funds own 11.82% of the company’s stock.

Several research firms have recently commented on NVS. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $82.50 to $82.52 in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price on the stock in a research report on Wednesday, April 24th. Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.57.

Shares of NYSE NVS opened at $84.44 on Friday. Novartis AG has a 1 year low of $63.60 and a 1 year high of $85.08. The company has a market cap of $193.83 billion, a P/E ratio of 16.59, a PEG ratio of 1.98 and a beta of 0.66. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion for the quarter, compared to analyst estimates of $11.76 billion. During the same quarter last year, the business earned $1.28 earnings per share. Novartis’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Novartis AG will post 5 earnings per share for the current year.

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About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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