Callan Capital LLC Has $957,000 Stock Position in Novartis AG (NYSE:NVS)

Callan Capital LLC lifted its stake in Novartis AG (NYSE:NVS) by 24.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,988 shares of the company’s stock after buying an additional 1,762 shares during the period. Callan Capital LLC’s holdings in Novartis were worth $957,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVS. Dimensional Fund Advisors LP increased its stake in shares of Novartis by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock valued at $788,626,000 after buying an additional 1,389,610 shares during the period. Wellington Management Group LLP grew its stake in Novartis by 1.2% in the fourth quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock valued at $479,264,000 after acquiring an additional 54,683 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Novartis by 0.6% in the first quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after purchasing an additional 16,015 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Novartis by 0.6% in the first quarter. Principal Financial Group Inc. now owns 2,523,334 shares of the company’s stock valued at $244,082,000 after purchasing an additional 14,686 shares in the last quarter. Finally, Mondrian Investment Partners LTD lifted its holdings in shares of Novartis by 40.1% in the first quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of Novartis stock opened at $116.00 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $114.14 and a two-hundred day moving average price of $105.36. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92. The company has a market cap of $237.10 billion, a P/E ratio of 15.65, a PEG ratio of 1.75 and a beta of 0.57.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period last year, the business posted $1.83 EPS. As a group, analysts anticipate that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVS shares. Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday, June 24th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus price target of $120.70.

About Novartis

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.