Novartis AG $NVS Stock: Triasima Portfolio Management inc. Lowers Position

Triasima Portfolio Management inc. lessened its stake in shares of Novartis AG (NYSE:NVS) by 27.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 32,275 shares of the company’s stock after selling 12,480 shares during the period. Triasima Portfolio Management inc.’s holdings in Novartis were worth $4,601,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Bank of America Corp DE increased its position in Novartis by 9.1% in the first quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after buying an additional 413,778 shares in the last quarter. Auto Owners Insurance Co lifted its position in shares of Novartis by 13,687.0% during the 4th quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock valued at $638,103,000 after buying an additional 4,594,726 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Novartis by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock valued at $365,308,000 after buying an additional 19,595 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Novartis by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock valued at $347,649,000 after buying an additional 41,520 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of Novartis during the 1st quarter valued at approximately $220,004,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 2.4%

Shares of NVS stock opened at $150.34 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a fifty day simple moving average of $148.46 and a two-hundred day simple moving average of $150.47. The firm has a market capitalization of $286.86 billion, a PE ratio of 22.68, a PEG ratio of 2.66 and a beta of 0.41. Novartis AG has a 52-week low of $121.57 and a 52-week high of $170.46.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. The business had revenue of $14.95 billion for the quarter. On average, analysts predict that Novartis AG will post 8.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada began coverage on shares of Novartis in a report on Tuesday, September 8th. They issued a “sector perform” rating for the company. Bank of America reaffirmed a “buy” rating on shares of Novartis in a report on Tuesday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Finally, HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $123.00 to $136.00 in a research note on Thursday, September 10th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Novartis currently has an average rating of “Hold” and a consensus target price of $145.60.

Novartis Company Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities center on cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto, Leqvio and Jakavi, as well as other therapies for serious and chronic conditions.

Novartis serves patients and healthcare providers in markets worldwide, with operations spanning North America, Europe, Asia and other international regions.