Cibc World Market Inc. Has $72.87 Million Stock Position in Novartis AG $NVS

Cibc World Market Inc. raised its stake in Novartis AG (NYSE:NVS) by 242.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,563 shares of the company’s stock after buying an additional 374,016 shares during the period. Cibc World Market Inc.’s holdings in Novartis were worth $72,873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NVS. Raymond James Financial Inc. boosted its position in Novartis by 77.7% in the third quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock valued at $211,362,000 after buying an additional 720,860 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Novartis during the third quarter worth $64,563,000. Bank of Montreal Can lifted its holdings in shares of Novartis by 85.0% during the third quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock worth $134,035,000 after purchasing an additional 480,201 shares during the period. Tidal Investments LLC lifted its holdings in shares of Novartis by 3,309.5% during the third quarter. Tidal Investments LLC now owns 301,436 shares of the company’s stock worth $38,656,000 after purchasing an additional 292,595 shares during the period. Finally, Woodley Farra Manion Portfolio Management Inc. lifted its holdings in shares of Novartis by 78.0% during the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 606,780 shares of the company’s stock worth $77,813,000 after purchasing an additional 265,861 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

NVS stock opened at $143.70 on Thursday. The firm has a market cap of $274.20 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.52 and a beta of 0.46. 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 AG has a 12-month low of $112.34 and a 12-month high of $170.46. The company’s fifty day simple moving average is $149.60 and its 200 day simple moving average is $147.14.

Novartis (NYSE:NVS) last released its earnings results on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.12). The firm had revenue of $13.52 billion during 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%. Novartis’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.28 EPS. On average, analysts expect that Novartis AG will post 8.84 earnings per share for the current year.

Analyst Ratings Changes

NVS has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Wednesday, March 11th. TD Cowen reiterated a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Thursday, February 12th. Finally, Morgan Stanley boosted their target price on shares of Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.20.

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.