Mirae Asset Global Investments Co. Ltd. Has $26.80 Million Position in Novartis AG (NYSE:NVS)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Novartis AG (NYSE:NVS) by 115.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,792 shares of the company’s stock after purchasing an additional 124,111 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Novartis were worth $26,797,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Mediolanum International Funds Ltd acquired a new stake in Novartis in the 3rd quarter valued at $24,096,000. Lake Street Advisors Group LLC boosted its holdings in Novartis by 127.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,119 shares of the company’s stock worth $1,969,000 after acquiring an additional 9,591 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Novartis by 5.9% during the 3rd quarter. Ballentine Partners LLC now owns 18,410 shares of the company’s stock worth $2,118,000 after acquiring an additional 1,030 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Novartis by 29.5% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 22,167 shares of the company’s stock worth $2,550,000 after acquiring an additional 5,052 shares during the last quarter. Finally, Mcdaniel Terry & Co. boosted its holdings in Novartis by 6.4% during the 3rd quarter. Mcdaniel Terry & Co. now owns 6,190 shares of the company’s stock worth $712,000 after acquiring an additional 370 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NVS shares. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.70.

Novartis Trading Up 0.6 %

NYSE NVS opened at $113.79 on Friday. The stock has a market capitalization of $232.59 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.66 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The business’s fifty day moving average is $116.42 and its 200-day moving average is $108.55.

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.