Pioneer Investment Management Inc. Purchases Shares of 96,500 Novartis AG (NVS)

Pioneer Investment Management Inc. purchased a new stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 96,500 shares of the company’s stock, valued at approximately $8,055,000.

Other large investors have also recently made changes to their positions in the company. Sit Investment Associates Inc. bought a new stake in shares of Novartis AG during the first quarter valued at about $1,367,000. Headinvest LLC boosted its stake in shares of Novartis AG by 2.0% in the first quarter. Headinvest LLC now owns 15,130 shares of the company’s stock valued at $1,124,000 after buying an additional 300 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Novartis AG by 0.8% in the first quarter. Fisher Asset Management LLC now owns 6,121,673 shares of the company’s stock valued at $454,657,000 after buying an additional 46,803 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Novartis AG by 16.1% in the first quarter. Rehmann Capital Advisory Group now owns 3,626 shares of the company’s stock valued at $269,000 after buying an additional 504 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of Novartis AG by 5.4% in the first quarter. Sigma Planning Corp now owns 6,447 shares of the company’s stock valued at $479,000 after buying an additional 330 shares in the last quarter. 11.16% of the stock is owned by institutional investors.

Shares of Novartis AG (NVS) opened at 83.51 on Wednesday. The firm has a 50-day moving average of $83.91 and a 200-day moving average of $79.26. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The company has a market capitalization of $195.65 billion, a P/E ratio of 30.49 and a beta of 0.73.

Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Novartis AG will post $4.74 earnings per share for the current year.

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NVS has been the topic of several research reports. TheStreet upgraded shares of Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Barclays PLC upgraded shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Vetr cut shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price on the stock. in a report on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 target price on shares of Novartis AG and gave the stock a “hold” rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of Novartis AG stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.01% of the stock is owned by insiders.

About Novartis AG

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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