Cypress Capital Group Purchases 2,638 Shares of Novartis AG $NVS

Key Points

• Cypress Capital Group increased its stake in Novartis AG by 84.1%, acquiring an additional 2,638 shares, bringing its total holdings to 5,776 shares valued at approximately $699,000.
• Despite a competitive market, Novartis reported a 12.3% increase in revenue year-over-year for the last quarter, totaling $14.05 billion, with an EPS of $2.42 that beat expectations.
• Analyst ratings for Novartis show a mix of optimism and caution, with one analyst labeling it a Strong Buy, while others provide a range of "buy," "hold," and "sell" recommendations.

Cypress Capital Group increased its position in Novartis AG (NYSE:NVS - Free Report) by 84.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,776 shares of the company's stock after purchasing an additional 2,638 shares during the quarter. Cypress Capital Group's holdings in Novartis were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVS. WPG Advisers LLC purchased a new position in Novartis during the first quarter valued at $25,000. Tsfg LLC grew its position in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares during the period. GFG Capital LLC bought a new position in shares of Novartis in the 2nd quarter worth about $26,000. Barrett & Company Inc. purchased a new position in Novartis during the 2nd quarter valued at about $31,000. Finally, MCF Advisors LLC lifted its position in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after acquiring an additional 105 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NYSE NVS opened at $130.05 on Monday. The firm has a market cap of $274.72 billion, a P/E ratio of 18.93, a PEG ratio of 1.80 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $125.14 and a 200 day moving average of $117.96.

Novartis (NYSE:NVS - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same period last year, the business posted $1.97 EPS. The company's revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVS shares. Morgan Stanley upgraded shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective on the stock in a report on Friday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a research report on Wednesday, October 8th. Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $118.00 target price (down 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 assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $120.33.

About Novartis

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.