Cypress Capital Group Buys 2,638 Shares of Novartis AG $NVS

Cypress Capital Group boosted its stake in Novartis AG (NYSE:NVSFree Report) by 84.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,776 shares of the company’s stock after purchasing an additional 2,638 shares during the period. Cypress Capital Group’s holdings in Novartis were worth $699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Essex Savings Bank increased its position in Novartis by 1.9% in the second quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after buying an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after acquiring an additional 85 shares during the period. Gallacher Capital Management LLC increased its holdings in Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company’s stock worth $650,000 after acquiring an additional 92 shares in the last quarter. Ascent Group LLC raised its stake in Novartis by 0.7% during the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company’s stock worth $1,709,000 after acquiring an additional 97 shares during the period. Finally, Sage Rhino Capital LLC lifted its holdings in Novartis by 1.2% during the second quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company’s stock valued at $983,000 after purchasing an additional 99 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NVS shares. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $120.33.

Get Our Latest Stock Report on NVS

Novartis Trading Down 0.8%

Shares of Novartis stock opened at $130.05 on Monday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $125.14 and a 200-day moving average price of $117.96. The firm has a market cap of $274.72 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.80 and a beta of 0.64.

Novartis (NYSE:NVSGet Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.97 earnings per share. Equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Profile

(Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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