Novartis AG (NVS) Shares Bought by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. raised its position in Novartis AG (NYSE:NVS) by 12.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,329 shares of the company’s stock after buying an additional 8,860 shares during the period. Cardinal Capital Management Inc.’s holdings in Novartis AG were worth $6,705,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Kernodle & Katon Asset Management Group LLC raised its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. First PREMIER Bank raised its position in shares of Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock worth $166,000 after buying an additional 52 shares during the period. Mosaic Family Wealth LLC raised its position in shares of Novartis AG by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,021 shares of the company’s stock worth $150,000 after buying an additional 71 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Novartis AG by 0.8% in the first quarter. Essex Investment Management Co. LLC now owns 9,409 shares of the company’s stock worth $699,000 after buying an additional 78 shares during the period. Finally, Dubuque Bank & Trust Co. raised its position in shares of Novartis AG by 3.9% in the first quarter. Dubuque Bank & Trust Co. now owns 2,526 shares of the company’s stock worth $188,000 after buying an additional 94 shares during the period. 11.16% of the stock is owned by institutional investors and hedge funds.

Shares of Novartis AG (NYSE:NVS) traded down 0.50% during midday trading on Friday, hitting $82.76. The stock had a trading volume of 1,319,136 shares. The firm has a market capitalization of $193.90 billion, a PE ratio of 30.22 and a beta of 0.73. The company’s 50 day moving average price is $83.92 and its 200-day moving average price is $79.10. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. Equities analysts predict that Novartis AG will post $4.73 earnings per share for the current year.

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A number of equities analysts recently issued reports on the company. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Thursday, June 22nd. UBS AG restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Vetr downgraded Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price for the company. in a research report on Tuesday, April 25th. Leerink Swann restated a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a research report on Thursday, June 22nd. Finally, Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research report on Wednesday, July 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $83.56.

In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.01% of the company’s stock.

About Novartis AG

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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