Novartis AG
In the published model solve dated 2026-Q2, anchored at $154.44, Novartis AG (NVS) is priced for +3.2% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Novartis is a focused, branded-pharma company running an operating margin around 26%, with a growing roster of newer drugs offsetting the loss of its biggest legacy product to generics. • The defining risk is the patent cliff: heart drug Entresto fell 42% in Q1 2026 as generics entered, and the company's own full-year guidance points to low-single-digit core operating income decline. [Source: Novartis Q1 2026 results, April 2026] • Watch the growth brands: Kisqali, Pluvicto, Kesimpta, Scemblix
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1,570 institutional managers reported holding NVS in 13F filings for the quarter ended 2026-03-31. Together they hold about 7% of the company; the top 10 hold 4%. 169 opened new positions that quarter. Held by Fisher Investments, Morgan Stanley, Dimensional Fund Advisors, among others. On the short side, 5.2M shares were sold short as of the 2026-06-15 count, about 0.3% of shares outstanding (2.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NVS has cut its share count 13.6% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting), raised 9 years straight. Cash returned over the past three years: $38.14B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.