TD Asset Management Inc Buys 3,271 Shares of Novartis AG $NVS

TD Asset Management Inc increased its stake in Novartis AG (NYSE:NVS - Free Report) by 18.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,700 shares of the company's stock after purchasing an additional 3,271 shares during the period. TD Asset Management Inc's holdings in Novartis were worth $2,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NVS. WPG Advisers LLC purchased a new stake in Novartis in the first quarter worth approximately $25,000. Tsfg LLC boosted its stake in Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares in the last quarter. GFG Capital LLC purchased a new stake in Novartis in the second quarter worth approximately $26,000. Barrett & Company Inc. purchased a new stake in Novartis in the second quarter worth approximately $31,000. Finally, MCF Advisors LLC boosted its stake in Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company's stock worth $32,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Shares of Novartis stock opened at $131.29 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The company has a market cap of $277.34 billion, a PE ratio of 19.11, a P/E/G ratio of 1.84 and a beta of 0.64. The business has a 50 day moving average of $127.04 and a 200 day moving average of $118.89. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55.

Analyst Ratings Changes

Several brokerages have issued reports on NVS. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a research note on Wednesday, October 8th. Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group reissued a "sell" rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $120.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.