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

Cibc World Market Inc. grew its stake in shares of Novartis AG (NYSE:NVS) by 242.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 528,563 shares of the company’s stock after acquiring 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.

Several other hedge funds have also recently bought and sold shares of the stock. Roundview Capital LLC increased its holdings in shares of Novartis by 2.5% during the fourth quarter. Roundview Capital LLC now owns 2,711 shares of the company’s stock worth $374,000 after purchasing an additional 66 shares during the period. Abundance Wealth Counselors increased its holdings in shares of Novartis by 0.4% during the fourth quarter. Abundance Wealth Counselors now owns 16,927 shares of the company’s stock worth $2,334,000 after purchasing an additional 73 shares during the period. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Novartis by 3.5% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 2,230 shares of the company’s stock worth $307,000 after purchasing an additional 75 shares during the period. South Plains Financial Inc. increased its holdings in shares of Novartis by 39.0% during the third quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after purchasing an additional 76 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in shares of Novartis by 0.9% during the fourth quarter. Valmark Advisers Inc. now owns 8,802 shares of the company’s stock worth $1,214,000 after purchasing an additional 77 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, February 12th. Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. TD Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. DZ Bank cut shares of Novartis from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a report on Thursday, March 19th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.20.

Novartis Stock Performance

Shares of NYSE:NVS opened at $143.70 on Thursday. The company’s 50 day simple moving average is $149.60 and its 200 day simple moving average is $147.14. The stock has a market capitalization of $274.20 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.52 and a beta of 0.46. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65. Novartis AG has a 1 year low of $112.34 and a 1 year high of $170.46.

Novartis (NYSE:NVS) last announced its quarterly earnings data 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 firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $2.28 earnings per share. As a group, research analysts predict that Novartis AG will post 8.84 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.