12,480 Novartis AG $NVS Shares Sold by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management reduced its Novartis stake by 27.9% in the third quarter, selling 12,480 shares and retaining 32,275 shares valued at approximately $4.6 million.
• Novartis shares opened at $150.34, near their 50-day and 200-day moving averages, with a $286.9 billion market capitalization and a 52-week range of $121.57 to $170.46.
• Analyst sentiment is mixed, with six Buy, twelve Hold, and two Sell ratings; the stock carries a consensus Hold rating and an average price target of $145.60.

Triasima Portfolio Management inc. reduced its position in shares of Novartis AG (NYSE:NVS - Free Report) by 27.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,275 shares of the company's stock after selling 12,480 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Novartis were worth $4,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Archer Investment Corp raised its holdings in Novartis by 93.0% in the first 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. Highland Investment Advisors LLC bought a new position in shares of Novartis in the second quarter worth approximately $25,000. Evolution Wealth Management Inc. grew its holdings in shares of Novartis by 552.0% during the second quarter. Evolution Wealth Management Inc. now owns 163 shares of the company's stock valued at $26,000 after buying an additional 138 shares during the last quarter. Atlatl Advisers LLC purchased a new stake in shares of Novartis during the second quarter valued at approximately $26,000. Finally, Silicon Valley Capital Partners grew its holdings in shares of Novartis by 519.4% during the second quarter. Silicon Valley Capital Partners now owns 192 shares of the company's stock valued at $30,000 after buying an additional 161 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $150.34 on Friday. Novartis AG has a fifty-two week low of $121.57 and a fifty-two week high of $170.46. The business has a 50-day simple moving average of $148.46 and a two-hundred day simple moving average of $150.47. 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 firm has a market cap of $286.86 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.66 and a beta of 0.41.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The business had revenue of $14.95 billion for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, analysts expect that Novartis AG will post 8.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVS shares. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a research report on Friday, July 24th. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research report on Thursday, September 17th. The Goldman Sachs Group reiterated a "sell" rating on shares of Novartis in a research note on Monday, September 21st. HSBC upgraded Novartis from a "reduce" rating to a "hold" rating and increased their target price for the company from $123.00 to $136.00 in a research note on Thursday, September 10th. Finally, Citigroup reissued a "buy" rating on shares of Novartis in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Novartis presently has an average rating of "Hold" and a consensus price target of $145.60.

About Novartis

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.

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