Cullen Capital Management LLC boosted its holdings in Novartis AG (NYSE:NVS – Free Report) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,080,796 shares of the company’s stock after buying an additional 10,419 shares during the quarter. Novartis accounts for 3.1% of Cullen Capital Management LLC’s holdings, making the stock its 2nd largest position. Cullen Capital Management LLC’s holdings in Novartis were worth $286,879,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Todd Asset Management LLC boosted its stake in Novartis by 5.8% in the 3rd quarter. Todd Asset Management LLC now owns 439,879 shares of the company’s stock worth $56,411,000 after purchasing an additional 23,978 shares during the period. Fisher Asset Management LLC boosted its stake in Novartis by 1.7% in the 3rd quarter. Fisher Asset Management LLC now owns 7,239,366 shares of the company’s stock worth $928,376,000 after purchasing an additional 117,952 shares during the period. JPMorgan Chase & Co. boosted its stake in Novartis by 18.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,543 shares of the company’s stock worth $68,935,000 after purchasing an additional 82,226 shares during the period. BXM Wealth LLC boosted its stake in Novartis by 726.9% in the 4th quarter. BXM Wealth LLC now owns 42,817 shares of the company’s stock worth $5,903,000 after purchasing an additional 37,639 shares during the period. Finally, Spire Wealth Management boosted its stake in Novartis by 2,561.0% in the 4th quarter. Spire Wealth Management now owns 38,983 shares of the company’s stock worth $5,375,000 after purchasing an additional 37,518 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a research note on Thursday, March 19th. Morgan Stanley lifted their target price on shares of Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Argus raised shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Wednesday, March 11th. Finally, TD Cowen reissued a “hold” rating on shares of Novartis in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.20.
Novartis Trading Down 0.6%
Shares of NYSE:NVS opened at $153.03 on Friday. The firm has a fifty day moving average of $149.47 and a two-hundred day moving average of $148.06. The firm has a market capitalization of $292.00 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46. Novartis AG has a 12-month low of $112.34 and a 12-month high of $170.46. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96.
Novartis (NYSE:NVS – Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $2.28 EPS. On average, equities analysts expect that Novartis AG will post 8.83 EPS 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.
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