Novartis AG $NVS Stake Lowered by Van ECK Associates Corp

Key Points

• Van ECK Associates cut its Novartis stake by 29% in the second quarter, selling 258,280 shares and retaining 633,523 shares valued at approximately $99.3 million.
• Novartis reported quarterly revenue of $14.95 billion and EPS of $2.41, with a 23.29% net margin and 38.56% return on equity.
• Analyst sentiment is mixed: seven analysts rate the stock Buy, seven Hold, and two Sell, resulting in a consensus Hold rating and an average price target of $141.20.

Van ECK Associates Corp trimmed its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 29.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 633,523 shares of the company's stock after selling 258,280 shares during the quarter. Van ECK Associates Corp's holdings in Novartis were worth $99,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. grew its stake in Novartis by 552.0% during the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company's stock worth $26,000 after buying an additional 138 shares during the last quarter. Atlatl Advisers LLC bought a new stake in Novartis in the second quarter valued at $26,000. Archer Investment Corp boosted 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 valued at $25,000 after acquiring an additional 80 shares during the period. CrossGen Wealth LLC acquired a new position in shares of Novartis during the fourth quarter valued at $28,000. Finally, Bank of Jackson Hole Trust grew its position in shares of Novartis by 425.0% during 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 last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Shares of NYSE NVS opened at $153.75 on Friday. Novartis AG has a twelve month low of $121.57 and a twelve month high of $170.46. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $155.07 and a two-hundred day moving average of $153.78. The company has a market capitalization of $293.38 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.63 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $14.95 billion for the quarter. As a group, analysts expect that Novartis AG will post 8.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVS. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a report on Friday, July 24th. Citigroup reissued a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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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