Cullinan Associates Inc. Grows Position in Novartis AG (NYSE:NVS)

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Cullinan Associates Inc. raised its holdings in Novartis AG (NYSE:NVS) by 31.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,076 shares of the company’s stock after acquiring an additional 1,464 shares during the quarter. Cullinan Associates Inc.’s holdings in Novartis were worth $575,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Grimes & Company Inc. raised its holdings in shares of Novartis by 1.8% during the 3rd quarter. Grimes & Company Inc. now owns 67,722 shares of the company’s stock valued at $5,885,000 after buying an additional 1,170 shares in the last quarter. Bangor Savings Bank purchased a new position in shares of Novartis during the 3rd quarter valued at about $212,000. Kovack Advisors Inc. purchased a new position in shares of Novartis during the 3rd quarter valued at about $375,000. Creative Planning raised its holdings in shares of Novartis by 0.4% during the 3rd quarter. Creative Planning now owns 73,993 shares of the company’s stock valued at $6,430,000 after buying an additional 328 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Novartis by 41.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,444 shares of the company’s stock valued at $647,000 after buying an additional 2,164 shares in the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NVS opened at $94.60 on Thursday. The stock has a market cap of $216.30 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.95 and a beta of 0.59. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt-to-equity ratio of 0.42. Novartis AG has a 1-year low of $74.70 and a 1-year high of $95.66. The stock’s 50-day moving average is $93.65 and its 200 day moving average is $90.24.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. The company had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $11.67 billion. Novartis had a return on equity of 20.86% and a net margin of 24.43%. Novartis’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 EPS. On average, analysts forecast that Novartis AG will post 5.23 EPS for the current fiscal year.

A number of equities analysts recently weighed in on NVS shares. Cowen reissued a “buy” rating and set a $100.00 price objective on shares of Novartis in a report on Friday, October 25th. ValuEngine raised Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $93.34.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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