iA Global Asset Management Inc. Has $2.13 Million Stock Holdings in Novartis AG (NYSE:NVS)

iA Global Asset Management Inc. increased its holdings in Novartis AG (NYSE:NVS) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,965 shares of the company’s stock after purchasing an additional 2,117 shares during the period. iA Global Asset Management Inc.’s holdings in Novartis were worth $2,125,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Ocean LLC acquired a new stake in shares of Novartis during the first quarter worth approximately $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Novartis during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the fourth quarter worth approximately $26,000. Clearstead Trust LLC increased its holdings in shares of Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of Novartis during the second quarter worth approximately $28,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group increased their price target on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group started coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Novartis has an average rating of “Hold” and a consensus target price of $118.13.

Novartis Price Performance

Shares of NVS stock opened at $120.89 on Friday. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92. The stock has a market cap of $247.10 billion, a PE ratio of 16.31, a PEG ratio of 1.77 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The firm’s 50 day moving average price is $111.51 and its two-hundred day moving average price is $103.86.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the firm earned $1.83 earnings per share. As a group, analysts forecast that Novartis AG will post 7.48 EPS for the current year.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.