Cardinal Capital Management grew its stake in Novartis AG (NYSE:NVS) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,727 shares of the company’s stock after buying an additional 4,408 shares during the period. Cardinal Capital Management’s holdings in Novartis AG were worth $3,668,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA increased its stake in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after buying an additional 446,976 shares during the period. Bank of America Corp DE increased its stake in shares of Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares during the period. Fisher Asset Management LLC increased its stake in shares of Novartis AG by 2.0% in the third quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock valued at $569,442,000 after buying an additional 127,049 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Novartis AG by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,241,239 shares of the company’s stock valued at $463,537,000 after buying an additional 41,762 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Novartis AG by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock valued at $420,390,000 after buying an additional 151,115 shares during the period. 10.94% of the stock is owned by institutional investors.
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Shares of Novartis AG (NYSE NVS) traded down $0.10 on Friday, hitting $82.38. The company had a trading volume of 1,182,500 shares, compared to its average volume of 2,350,100. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $195,114.28, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.72. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. Novartis AG’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.23 earnings per share. sell-side analysts anticipate that Novartis AG will post 4.75 EPS for the current year.
Several research firms recently commented on NVS. BidaskClub cut Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Cowen and Company set a $90.00 target price on Novartis AG and gave the stock a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, October 31st. Finally, Barclays PLC cut Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $85.32.
Novartis AG Company 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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