Tidal Investments LLC Cuts Stock Holdings in Novartis AG $NVS

Tidal Investments LLC lowered its holdings in Novartis AG (NYSE:NVS) by 52.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,944 shares of the company’s stock after selling 101,233 shares during the quarter. Tidal Investments LLC’s holdings in Novartis were worth $14,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Highland Investment Advisors LLC bought a new position in Novartis in the second quarter worth approximately $25,000. Evolution Wealth Management Inc. increased its holdings in shares of Novartis by 552.0% in the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after acquiring an additional 138 shares during the period. Atlatl Advisers LLC purchased a new position in Novartis in the second quarter valued at about $26,000. Archer Investment Corp grew its position in shares of Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Finally, CrossGen Wealth LLC acquired a new stake in Novartis in the fourth quarter valued at approximately $28,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Trading Up 0.1%

NYSE:NVS opened at $137.55 on Friday. The company has a market capitalization of $262.46 billion, a P/E ratio of 20.75, a PEG ratio of 2.67 and a beta of 0.45. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. Novartis AG has a 12 month low of $121.57 and a 12 month high of $170.46. The firm has a fifty day simple moving average of $154.63 and a 200-day simple moving average of $153.11.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The firm had revenue of $14.95 billion for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. On average, equities research analysts anticipate that Novartis AG will post 8.84 earnings per share for the current year.

Key Stories Impacting Novartis

Here are the key news stories impacting Novartis this week:

• Positive Sentiment: Novartis shares recovered somewhat after an estimated $30 billion market-value wipeout, offering limited relief following the initial selloff. However, the rebound appears technical rather than driven by a new fundamental catalyst. Novartis Rebounds as $30 Billion Wipeout Draws Board Challenge
• Neutral Sentiment: A major shareholder is urging a board shake-up to improve corporate governance after the trial setbacks and record weekly decline. The move could increase pressure on management, though governance changes might ultimately improve accountability and capital allocation. Major Novartis shareholder calls for board shake-up after drug trial setbacks
• Negative Sentiment: Novartis’ Phase 3 HARBOR study of del-desiran failed to meet its primary endpoint in myotonic dystrophy type 1. The result adds to concerns about the company’s pipeline and followed the failure of the Phase 3 HORIZON study of pelacarsen. Novartis’ Del-desiran Fails Late-Stage DM1 Study, Shares Fall
• Negative Sentiment: Deutsche Bank downgraded Novartis following the twin trial failures, extending the selloff and signaling weaker confidence in the company’s near- to medium-term growth prospects. Novartis extends selloff as Deutsche Bank cuts on twin drug trial setbacks
• Negative Sentiment: A shareholder-related law firm announced an investigation into potential securities-law violations connected with the disclosures and resulting decline, adding further legal and reputational risk. Novartis Investigation Notice

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVS. Royal Bank Of Canada initiated coverage on shares of Novartis in a report on Tuesday. They issued a “sector perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Citigroup restated a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, HSBC set a $136.00 price target on Novartis in a report on Thursday. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Novartis has a consensus rating of “Hold” and a consensus target price of $146.00.

Novartis Company Profile

Novartis AG (NYSE: NVS) is a Switzerland-based pharmaceutical company focused on discovering, developing and commercializing innovative medicines. The company’s portfolio addresses major disease areas including cardiovascular, renal and metabolic conditions, immunology, neuroscience, oncology and hematology.

Novartis markets medicines such as Entresto for certain heart conditions, Cosentyx for inflammatory diseases, Kisqali for breast cancer, Kesimpta for multiple sclerosis, Leqvio for cholesterol management, Pluvicto for certain prostate cancers and Scemblix for chronic myeloid leukemia.