Sei Investments Co. boosted its position in shares of Novartis AG (NYSE:NVS) by 49.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 934,984 shares of the company’s stock after buying an additional 309,796 shares during the period. Sei Investments Co.’s holdings in Novartis AG were worth $73,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVS. Fisher Asset Management LLC increased its stake in Novartis AG by 1.2% in the second quarter. Fisher Asset Management LLC now owns 6,363,641 shares of the company’s stock worth $523,791,000 after buying an additional 76,542 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Novartis AG by 6.8% in the second quarter. Loomis Sayles & Co. L P now owns 5,601,211 shares of the company’s stock worth $462,156,000 after buying an additional 358,263 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in Novartis AG by 5.3% in the third quarter. Manning & Napier Advisors LLC now owns 3,752,105 shares of the company’s stock worth $296,265,000 after buying an additional 187,448 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Novartis AG by 10.4% in the second quarter. Mawer Investment Management Ltd. now owns 3,743,858 shares of the company’s stock worth $308,906,000 after buying an additional 351,773 shares during the last quarter. Finally, Parnassus Investments CA increased its stake in Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock worth $287,291,000 after buying an additional 1,323,724 shares during the last quarter. Hedge funds and other institutional investors own 9.86% of the company’s stock.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Shares of Novartis AG (NYSE:NVS) opened at 69.08 on Tuesday. The stock has a market capitalization of $164.10 billion, a PE ratio of 24.36 and a beta of 0.71. Novartis AG has a 1-year low of $67.28 and a 1-year high of $88.49. The firm has a 50-day moving average of $72.79 and a 200 day moving average of $78.41.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The company earned $12.13 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. On average, equities analysts anticipate that Novartis AG will post $4.72 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first posted by Financial Market News and is the sole property of of Financial Market News. If you are reading this story on another site, it was stolen and republished in violation of international copyright & trademark law. The legal version of this story can be read at http://www.financial-market-news.com/novartis-ag-nvs-stake-raised-by-sei-investments-co/1208388/.

NVS has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Jefferies Group reiterated a “buy” rating on shares of Novartis AG in a research report on Sunday, October 16th. Chardan Capital reduced their price target on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, October 10th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Finally, Argus upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $88.50.

About Novartis AG

Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.

5 Day Chart for NYSE:NVS

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.