Cardinal Capital Management Has $3.20 Million Position in Novartis AG (NVS)

Cardinal Capital Management increased its position in shares of Novartis AG (NYSE:NVS) by 23.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,319 shares of the company’s stock after buying an additional 7,220 shares during the period. Cardinal Capital Management’s holdings in Novartis AG were worth $3,198,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parnassus Investments CA boosted its position in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares during the last quarter. BlackRock Inc. bought a new position in Novartis AG during the first quarter worth $210,378,000. Janus Capital Management LLC boosted its position in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock worth $130,696,000 after buying an additional 1,754,716 shares during the last quarter. Wells Fargo & Company MN boosted its position in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Novartis AG during the first quarter worth $51,745,000. 11.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Novartis AG (NYSE:NVS) opened at 84.10 on Wednesday. The company’s 50-day moving average price is $84.05 and its 200 day moving average price is $78.96. The company has a market cap of $197.04 billion, a P/E ratio of 30.70 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.

Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Novartis AG will post $4.73 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on NVS shares. Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research report on Wednesday, July 5th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. 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, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, April 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.01% of the stock is currently owned by insiders.

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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