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Cookson Peirce & Co. Inc. Acquires 45,408 Shares of Novartis AG $NVS

Novartis logo with Medical background

Key Points

  • Cookson Peirce & Co. Inc. increased its Novartis AG holdings by 20.4%, acquiring an additional 45,408 shares in the second quarter, bringing their total to 267,535 shares valued at approximately $32.37 million.
  • Several other hedge funds also modified their positions in Novartis, with some like Cypress Capital Group boosting their holdings by as much as 84.1% during the same period.
  • Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell, reflecting an average target price of $120.33 for Novartis shares.
  • Five stocks to consider instead of Novartis.

Cookson Peirce & Co. Inc. grew its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 20.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,535 shares of the company's stock after buying an additional 45,408 shares during the period. Novartis accounts for approximately 1.4% of Cookson Peirce & Co. Inc.'s holdings, making the stock its 23rd biggest position. Cookson Peirce & Co. Inc.'s holdings in Novartis were worth $32,374,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sonora Investment Management Group LLC bought a new stake in shares of Novartis during the 2nd quarter valued at $266,000. Cypress Capital Group boosted its holdings in shares of Novartis by 84.1% during the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company's stock valued at $699,000 after buying an additional 2,638 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company's stock valued at $5,311,000 after buying an additional 6,849 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of Novartis during the 2nd quarter valued at $1,909,000. Finally, DAVENPORT & Co LLC boosted its stake in Novartis by 8.9% in the 2nd quarter. DAVENPORT & Co LLC now owns 33,683 shares of the company's stock worth $4,076,000 after purchasing an additional 2,758 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $131.29 on Wednesday. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The business has a 50-day simple moving average of $127.04 and a two-hundred day simple moving average of $118.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm has a market cap of $277.34 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVS. Wall Street Zen upgraded shares of Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research note on Wednesday, October 8th. Morgan Stanley upgraded shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Novartis has an average rating of "Hold" and an average target price of $120.33.

Check Out Our Latest Stock Analysis on Novartis

Novartis Company 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.

See Also

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 - Free Report).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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