Novartis AG $NVS Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Novartis AG (NYSE:NVS) by 50.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,989 shares of the company’s stock after purchasing an additional 8,682 shares during the quarter. CIBC Asset Management Inc’s holdings in Novartis were worth $3,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVS. GFG Capital LLC purchased a new position in Novartis in the 2nd quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the second quarter valued at about $30,000. Barrett & Company Inc. purchased a new position in shares of Novartis in the second quarter worth about $31,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Novartis during the second quarter worth about $40,000. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Novartis by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 352 shares of the company’s stock worth $43,000 after purchasing an additional 704 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVS. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Monday, December 29th. Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a report on Monday, October 27th. Wall Street Zen raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Cfra Research upgraded Novartis to a “hold” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $119.75.

Novartis Stock Performance

NYSE:NVS opened at $152.08 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88. The stock has a market capitalization of $321.27 billion, a PE ratio of 20.78, a P/E/G ratio of 1.94 and a beta of 0.51. Novartis AG has a fifty-two week low of $97.71 and a fifty-two week high of $152.48. The company has a fifty day moving average of $137.06 and a two-hundred day moving average of $129.08.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $14.36 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS. As a group, research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.