Schafer Cullen Capital Management INC Holds Stake in Novartis Ag (Adr) (NVS)

July 17, 2017 - By Vivian Park

Schafer Cullen Capital Management Inc increased its stake in Novartis Ag (Adr) (NVS) by 65.31% based on its latest 2016Q4 regulatory filing with the SEC. Schafer Cullen Capital Management Inc bought 922,623 shares as the company’s stock rose 4.17% with the market. The hedge fund held 2.34M shares of the major pharmaceuticals company at the end of 2016Q4, valued at $170.10M, up from 1.41M at the end of the previous reported quarter. Schafer Cullen Capital Management Inc who had been investing in Novartis Ag (Adr) for a number of months, seems to be bullish on the $217.69B market cap company. The stock declined 0.06% or $0.05 reaching $83.11 on the news. About 1.16 million shares traded. Novartis AG (ADR) (NYSE:NVS) has risen 7.67% since July 17, 2016 and is uptrending. It has underperformed by 9.03% the S&P500.

Schafer Cullen Capital Management Inc, which manages about $10.62 billion and $7.38B US Long portfolio, decreased its stake in Michelin Compagnie Generale (A (MGDDY) by 818,278 shares to 3.12M shares, valued at $69.26M in 2016Q4, according to the filing. It also reduced its holding in Jp Morgan Chase & Co. (NYSE:JPM) by 503,506 shares in the quarter, leaving it with 2.03 million shares, and cut its stake in The Travelers Companies Inc. (NYSE:TRV).

Novartis AG (ADR) (NYSE:NVS) Ratings Coverage

Among 15 analysts covering Novartis Ag (NYSE:NVS), 4 have Buy rating, 3 Sell and 8 Hold. Therefore 27% are positive. Novartis Ag had 26 analyst reports since July 28, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, July 5 by Credit Suisse. The firm has “Market Perform” rating by Cowen & Co given on Wednesday, April 5. The stock has “Neutral” rating by Citigroup on Tuesday, March 29. Argus Research upgraded the stock to “Buy” rating in Thursday, November 10 report. The company was maintained on Thursday, March 23 by Goldman Sachs. JP Morgan maintained Novartis AG (ADR) (NYSE:NVS) on Wednesday, April 19 with “Neutral” rating. The stock of Novartis AG (ADR) (NYSE:NVS) earned “Hold” rating by Barclays Capital on Friday, June 23. The firm earned “Hold” rating on Tuesday, April 5 by Argus Research. JP Morgan maintained the shares of NVS in report on Friday, March 24 with “Neutral” rating. The company was maintained on Monday, July 10 by Cowen & Co.

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