Arrowstreet Capital Limited Partnership Sells 679,380 Shares of Novartis AG $NVS

Key Points

• Arrowstreet Capital cut its Novartis stake by 86.2% in the first quarter, selling 679,380 shares and retaining 108,597 shares valued at approximately $16.6 million.
• Novartis has a consensus “Hold” rating among analysts, with seven Buy, seven Hold, and two Sell ratings; the average price target is $141.20.
• The stock opened at $158.45 and has a market capitalization of about $302.4 billion. Novartis recently reported quarterly EPS of $2.41 on $14.95 billion in revenue, with a 23.29% net margin and 38.56% return on equity.

Arrowstreet Capital Limited Partnership cut its holdings in Novartis AG (NYSE:NVS - Free Report) by 86.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,597 shares of the company's stock after selling 679,380 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Novartis were worth $16,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Arlington Trust Co LLC bought a new stake in Novartis during the 4th quarter valued at about $25,000. Archer Investment Corp lifted its holdings in shares of Novartis by 93.0% during the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock valued at $25,000 after buying an additional 80 shares during the period. CrossGen Wealth LLC purchased a new position in Novartis in the fourth quarter worth about $28,000. Bank of Jackson Hole Trust raised its position in Novartis by 425.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock worth $32,000 after acquiring an additional 187 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new position in Novartis in the 3rd quarter worth $33,000. Institutional investors own 13.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVS shares. Citigroup reiterated a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $141.20.

Novartis Stock Performance

NYSE NVS opened at $158.45 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The business has a 50 day simple moving average of $152.58 and a two-hundred day simple moving average of $152.70. The stock has a market capitalization of $302.35 billion, a PE ratio of 23.90, a P/E/G ratio of 2.73 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The firm had revenue of $14.95 billion for the quarter. On average, research analysts predict that Novartis AG will post 8.82 EPS for the current fiscal year.

About Novartis

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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