Mcdaniel Terry & Co. Increases Position in Novartis AG (NYSE:NVS)

Mcdaniel Terry & Co. lifted its position in Novartis AG (NYSE:NVS) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,190 shares of the company’s stock after purchasing an additional 370 shares during the period. Mcdaniel Terry & Co.’s holdings in Novartis were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew 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 valued at $788,626,000 after acquiring an additional 1,389,610 shares in the last quarter. Janus Henderson Group PLC lifted its position in Novartis by 0.6% during 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 during the last quarter. Mondrian Investment Partners LTD lifted its position in Novartis by 40.1% during 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 during the last quarter. Magnetar Financial LLC lifted its position in Novartis by 53.7% during the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position 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 valued at $202,771,000 after purchasing an additional 1,250,318 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 0.8 %

NYSE NVS opened at $113.16 on Friday. 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 company has a market capitalization of $231.30 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. The company’s 50-day simple moving average is $116.44 and its two-hundred day simple moving average is $108.39. Novartis AG has a one year low of $92.19 and a one year high of $120.92.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America lowered shares of 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 report on Wednesday, September 11th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.