Callan Family Office LLC Makes New Investment in Novartis AG (NYSE:NVS)

Callan Family Office LLC bought a new stake in Novartis AG (NYSE:NVS) in the third quarter, HoldingsChannel.com reports. The firm bought 1,901 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also bought and sold shares of NVS. Dimensional Fund Advisors LP raised its stake in Novartis by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after acquiring an additional 1,389,610 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Novartis by 191.1% during the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after acquiring an additional 1,250,318 shares in the last quarter. Magnetar Financial LLC raised its stake in Novartis by 53.7% during the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after acquiring an additional 666,104 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Novartis in the second quarter valued at approximately $64,610,000. Finally, Mondrian Investment Partners LTD increased its stake 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 buying an additional 590,830 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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 research note on Thursday, September 5th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novartis currently has an average rating of “Hold” and a consensus price target of $120.70.

Novartis Price Performance

Novartis stock opened at $113.76 on Wednesday. The stock has a market capitalization of $232.53 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.71 and a beta of 0.57. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92. The stock’s 50 day moving average price is $115.49 and its two-hundred day moving average price is $106.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm 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 prior year, the business earned $1.83 EPS. On average, equities analysts predict that Novartis AG will post 7.5 earnings per share for the current year.

Novartis Company 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.