Cardinal Capital Management increased its position in shares of Novartis AG (NYSE:NVS) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 32,752 shares of the company’s stock after buying an additional 1,007 shares during the period. Cardinal Capital Management’s holdings in Novartis AG were worth $2,702,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NVS. Franklin Resources Inc. boosted its stake in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock worth $869,189,000 after buying an additional 2,195,618 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock worth $379,800,000 after buying an additional 408,972 shares during the period. Woodley Farra Manion Portfolio Management Inc. bought a new position in Novartis AG during the second quarter worth approximately $26,632,000. Cambiar Investors LLC raised its position in Novartis AG by 12.1% in the second quarter. Cambiar Investors LLC now owns 2,117,314 shares of the company’s stock worth $174,700,000 after buying an additional 229,198 shares during the period. Finally, Ngam Advisors L.P. raised its position in Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock worth $56,255,000 after buying an additional 200,917 shares during the period. Hedge funds and other institutional investors own 9.78% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded up 0.05% on Monday, hitting $79.00. The stock had a trading volume of 1,160,644 shares. The stock has a market cap of $188.12 billion, a PE ratio of 28.20 and a beta of 0.57. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11. The company has a 50 day moving average price of $80.36 and a 200-day moving average price of $78.69.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The company had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. During the same quarter in the previous year, the company earned $1.25 EPS. On average, equities research analysts anticipate that Novartis AG will post $4.72 earnings per share for the current year.
Several equities analysts have recently issued reports on NVS shares. Zacks Investment Research upgraded Novartis AG from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. TheStreet raised Novartis AG from a “hold” rating to a “buy” rating in a report on Friday, June 24th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Wednesday, July 13th. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $91.83.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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