Novartis AG (NYSE:NVS) Holdings Raised by AQR Capital Management LLC

AQR Capital Management LLC increased its position in shares of Novartis AG (NYSE:NVS) by 257.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,702 shares of the company’s stock after purchasing an additional 6,990 shares during the quarter. AQR Capital Management LLC’s holdings in Novartis were worth $1,033,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Novartis in the 4th quarter valued at about $848,000. Beacon Financial Group grew its holdings in shares of Novartis by 3.3% during the fourth quarter. Beacon Financial Group now owns 23,991 shares of the company’s stock valued at $2,422,000 after purchasing an additional 763 shares during the last quarter. Abel Hall LLC acquired a new stake in shares of Novartis during the 4th quarter worth approximately $314,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the 4th quarter worth approximately $26,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Novartis by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock worth $479,264,000 after purchasing an additional 54,683 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $120.70.

Novartis Stock Performance

NVS opened at $116.24 on Friday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The firm has a market capitalization of $237.59 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.57. The stock’s 50 day moving average price is $115.66 and its two-hundred day moving average price is $107.04. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS) last released 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. The business had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same period in the previous year, the business posted $1.83 earnings per share. On average, equities analysts forecast that Novartis AG will post 7.52 earnings per share 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.