Cardinal Capital Management Has $5.93 Million Stake in Novartis AG $NVS

Cardinal Capital Management grew its holdings in shares of Novartis AG (NYSE:NVS) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,013 shares of the company’s stock after acquiring an additional 1,062 shares during the quarter. Cardinal Capital Management’s holdings in Novartis were worth $5,931,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVS. Essex Savings Bank increased its position in Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after purchasing an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Novartis by 5.8% during the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock worth $186,000 after buying an additional 85 shares in the last quarter. Gallacher Capital Management LLC increased its holdings in shares of Novartis by 1.7% during the second quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock worth $650,000 after buying an additional 92 shares in the last quarter. Osprey Private Wealth LLC increased its holdings in shares of Novartis by 1.5% during the second quarter. Osprey Private Wealth LLC now owns 6,675 shares of the company’s stock worth $814,000 after buying an additional 100 shares in the last quarter. Finally, Tranquilli Financial Advisor LLC increased its holdings in shares of Novartis by 2.4% during the first quarter. Tranquilli Financial Advisor LLC now owns 4,438 shares of the company’s stock worth $495,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a report on Friday, August 8th. Wall Street Zen downgraded Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued 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, one has given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $120.33.

Novartis Trading Up 0.4%

Shares of Novartis stock opened at $123.44 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a 52 week low of $96.06 and a 52 week high of $130.46. The stock has a 50 day moving average price of $121.81 and a two-hundred day moving average price of $116.29. The stock has a market capitalization of $260.76 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter last year, the firm posted $1.97 EPS. Novartis’s revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

About Novartis

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.