Goldman Sachs Group Inc. cut its stake in shares of Novartis AG (NYSE:NVS – Free Report) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,744,183 shares of the company’s stock after selling 205,464 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Novartis were worth $378,341,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Todd Asset Management LLC lifted its position in shares of Novartis by 5.8% in the 3rd quarter. Todd Asset Management LLC now owns 439,879 shares of the company’s stock worth $56,411,000 after acquiring an additional 23,978 shares during the period. Fisher Asset Management LLC lifted its position in shares of Novartis by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 7,239,366 shares of the company’s stock worth $928,376,000 after buying an additional 117,952 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Novartis by 18.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,543 shares of the company’s stock worth $68,935,000 after buying an additional 82,226 shares during the period. BXM Wealth LLC increased its holdings in Novartis by 726.9% during the 4th quarter. BXM Wealth LLC now owns 42,817 shares of the company’s stock valued at $5,903,000 after purchasing an additional 37,639 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Novartis during the 3rd quarter valued at $4,366,000. 13.12% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Wednesday, March 11th. Wall Street Zen lowered Novartis from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. DZ Bank lowered Novartis from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, TD Cowen restated a “hold” rating on shares of Novartis in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $141.20.
Novartis Price Performance
NYSE:NVS opened at $148.39 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85. The stock’s 50-day simple moving average is $149.60 and its 200 day simple moving average is $147.26. The company has a market cap of $283.14 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.52 and a beta of 0.46. Novartis AG has a 52-week low of $112.34 and a 52-week high of $170.46.
Novartis (NYSE:NVS – Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.44 billion. Novartis had a return on equity of 38.82% and a net margin of 24.87%.Novartis’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $2.28 EPS. As a group, sell-side analysts forecast that Novartis AG will post 8.84 EPS for the current fiscal year.
Novartis Company Profile
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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