Novartis AG $NVS Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its stake in Novartis AG by 24.9%, selling 9,406 shares during the 1st quarter, bringing its total holdings to 28,368 shares valued at approximately $3.16 million.
• Wall Street analysts have mixed ratings on Novartis, with a consensus rating of "Hold" and a price target of $120.33, reflecting varying opinions on the stock's performance.
• Novartis recently reported quarterly earnings of $2.42 EPS, exceeding estimates, with revenues reaching $14.05 billion, which is a 12.3% increase compared to the previous year.

Acadian Asset Management LLC reduced its stake in Novartis AG (NYSE:NVS - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,368 shares of the company's stock after selling 9,406 shares during the quarter. Acadian Asset Management LLC's holdings in Novartis were worth $3,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raiffeisen Bank International AG acquired a new position in shares of Novartis in the 4th quarter valued at $25,000. Nexus Investment Management ULC acquired a new stake in shares of Novartis in the 1st quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in Novartis in the 1st quarter valued at about $25,000. Tsfg LLC lifted its holdings in Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after purchasing an additional 183 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Novartis during the 4th quarter worth about $30,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on NVS shares. Wall Street Zen cut Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group reiterated a "sell" rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Finally, Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $120.33.

Novartis Trading Down 0.7%

Shares of NYSE:NVS opened at $123.27 on Tuesday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $130.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a market capitalization of $260.40 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.74 and a beta of 0.63. The company has a 50-day simple moving average of $121.74 and a 200 day simple moving average of $115.94.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. During the same period in the previous year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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