CIBC Asset Management Inc purchased a new position in shares of Novartis AG (NYSE:NVS – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,711 shares of the company's stock, valued at approximately $501,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AHL Investment Management Inc. acquired a new stake in shares of Novartis during the fourth quarter worth $25,000. Atwood & Palmer Inc. increased its stake in Novartis by 400.0% during the 1st quarter. Atwood & Palmer Inc. now owns 375 shares of the company's stock valued at $33,000 after buying an additional 300 shares during the period. Allegheny Financial Group LTD acquired a new position in Novartis during the 4th quarter valued at about $34,000. DeDora Capital Inc. bought a new position in shares of Novartis during the 1st quarter valued at about $34,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Novartis during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 9.40% of the company's stock.
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NVS opened at $87.15 on Wednesday. Novartis AG has a 1-year low of $79.09 and a 1-year high of $95.17. The stock's fifty day simple moving average is $84.85 and its 200 day simple moving average is $86.58. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The stock has a market cap of $192.83 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 2.42 and a beta of 0.51.
Novartis (NYSE:NVS – Get Rating) last released its earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.04. The company had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. Novartis's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 EPS. As a group, research analysts expect that Novartis AG will post 6.06 earnings per share for the current year.Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Credit Suisse Group raised their target price on shares of Novartis from CHF 85 to CHF 88 in a report on Thursday, April 28th. Morgan Stanley raised their price objective on shares of Novartis from CHF 90 to CHF 94 in a research report on Friday, May 6th. Oppenheimer lowered shares of Novartis from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. Wolfe Research lowered shares of Novartis from an "outperform" rating to a "market perform" rating in a research report on Monday, May 9th. Finally, upgraded shares of Novartis from a "hold" rating to a "buy" rating in a research note on Thursday, April 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Novartis presently has a consensus rating of "Hold" and a consensus target price of $87.33.
Novartis Profile
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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