Geneos Wealth Management Inc. Cuts Stake in Novartis AG $NVS

Key Points

• Geneos Wealth Management cut its Novartis stake by 22.9% in the first quarter, selling 14,852 shares and leaving it with 49,989 shares worth about $7.64 million.
• Analyst sentiment on Novartis remains mixed: Morgan Stanley raised its price target to $170 with an overweight rating, while the overall consensus is currently Hold with an average target price of $141.20.
• Novartis reported $1.99 EPS for the latest quarter, missing estimates, though revenue of $13.52 billion slightly beat expectations; the stock was trading at $152.69 and is near its 52-week high.

Geneos Wealth Management Inc. reduced its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,989 shares of the company's stock after selling 14,852 shares during the period. Geneos Wealth Management Inc.'s holdings in Novartis were worth $7,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Arlington Trust Co LLC purchased a new stake in shares of Novartis in the 4th quarter valued at $25,000. Archer Investment Corp raised its position in Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 80 shares during the period. CrossGen Wealth LLC purchased a new position in Novartis in the 4th quarter worth $28,000. Bank of Jackson Hole Trust lifted its stake 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 purchasing an additional 187 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Novartis in the third quarter worth $33,000. 13.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Novartis from $143.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, March 26th. Sanford C. Bernstein raised Novartis to a "hold" rating in a research note on Thursday, March 19th. Finally, Weiss Ratings lowered Novartis from a "buy (a-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $141.20.

Novartis Stock Up 1.3%

Shares of Novartis stock opened at $152.69 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. Novartis AG has a 52-week low of $112.34 and a 52-week high of $170.46. The company's 50 day moving average price is $151.26 and its 200-day moving average price is $151.59. The stock has a market capitalization of $291.36 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.60 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing analysts' consensus estimates of $2.11 by ($0.12). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. Equities research analysts forecast that Novartis AG will post 8.76 EPS for the current 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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