D.A. Davidson & CO. Sells 6,899 Shares of Novartis AG $NVS

Key Points

• D.A. Davidson & CO. reduced its Novartis stake by 3.1% in the first quarter, selling 6,899 shares and leaving it with 212,815 shares worth about $32.5 million.
• Novartis reported quarterly EPS of $1.99, missing analyst estimates of $2.11, though revenue came in slightly above expectations at $13.52 billion.
• Analyst sentiment is mixed: the stock has a consensus rating of Hold with an average price target of $141.20, even as Morgan Stanley raised its target to $170 and gave it an overweight rating.

D.A. Davidson & CO. decreased its stake in Novartis AG (NYSE:NVS - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,815 shares of the company's stock after selling 6,899 shares during the quarter. D.A. Davidson & CO.'s holdings in Novartis were worth $32,508,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Arlington Trust Co LLC bought a new position in Novartis during the 4th quarter valued at about $25,000. Archer Investment Corp grew its holdings in shares of Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. CrossGen Wealth LLC bought a new stake in shares of Novartis during the fourth quarter worth $28,000. Bank of Jackson Hole Trust increased its stake in shares of Novartis by 425.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock valued at $32,000 after buying an additional 187 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Novartis in the third quarter valued at about $33,000. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Novartis stock opened at $150.89 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $287.93 billion, a P/E ratio of 21.62, a PEG ratio of 2.59 and a beta of 0.45. The business has a 50-day moving average of $151.11 and a 200-day moving average of $151.49. Novartis AG has a 1 year low of $112.34 and a 1 year high of $170.46.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. During the same quarter last year, the business posted $2.28 earnings per share. The company's revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Novartis AG will post 8.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Novartis to a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings cut shares of Novartis from a "buy (a-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley boosted their target price on Novartis from $143.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 26th. Seven investment 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $141.20.

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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