CIBC World Markets Inc. lifted its position in shares of Novartis AG (NYSE:NVS) by 70.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,556 shares of the company’s stock after buying an additional 42,676 shares during the period. CIBC World Markets Inc.’s holdings in Novartis AG were worth $8,644,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. City Holding Co. boosted its position in shares of Novartis AG by 4.6% during the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares during the period. TCI Wealth Advisors Inc. boosted its position in shares of Novartis AG by 20.0% during the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the period. Archford Capital Strategies LLC boosted its position in shares of Novartis AG by 72.3% during the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC boosted its position in shares of Novartis AG by 3.4% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of Novartis AG by 1.0% during the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after buying an additional 16 shares during the period. 10.98% of the stock is owned by institutional investors.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.01% of the company’s stock.
Novartis AG (NYSE NVS) opened at 85.63 on Monday. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The company’s 50-day moving average price is $84.13 and its 200 day moving average price is $80.00. The firm has a market capitalization of $200.62 billion, a PE ratio of 31.26 and a beta of 0.74.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. On average, equities research analysts predict that Novartis AG will post $4.75 earnings per share for the current year.
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Several research analysts have recently weighed in on the company. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 22nd. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research report on Wednesday, July 5th. Leerink Swann reaffirmed a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. Finally, Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Novartis AG has a consensus rating of “Hold” and an average price target of $83.56.
Novartis AG Profile
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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