CNB Bank Has $596,000 Position in Novartis AG (NYSE:NVS)

CNB Bank cut its stake in Novartis AG (NYSE:NVS) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,122 shares of the company’s stock after selling 973 shares during the period. CNB Bank’s holdings in Novartis were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NVS. Fisher Asset Management LLC raised its position in shares of Novartis by 15.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock valued at $196,225,000 after buying an additional 231,851 shares in the last quarter. FMR LLC boosted its position in Novartis by 5.5% in the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock valued at $155,669,000 after buying an additional 70,314 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Novartis by 2.9% during the third quarter. Natixis Advisors LLC now owns 938,844 shares of the company’s stock worth $107,986,000 after buying an additional 26,317 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Novartis by 18.7% during the third quarter. Bank of Montreal Can now owns 780,980 shares of the company’s stock worth $90,289,000 after buying an additional 123,077 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Novartis during the 2nd quarter valued at $64,610,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Trading Up 0.0 %

NVS opened at $97.90 on Friday. The stock has a market cap of $200.12 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a fifty day moving average of $100.97 and a 200-day moving average of $109.12.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The firm had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the business posted $1.74 EPS. On average, sell-side analysts predict that Novartis AG will post 7.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on NVS. BMO Capital Markets increased their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.50.

Novartis Profile

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.