Renaissance Technologies LLC Has $169.83 Million Stake in Novartis AG $NVS

Key Points

• Renaissance Technologies cut its Novartis stake by 17.2% in the first quarter, selling 231,200 shares and leaving it with 1,111,833 shares valued at about $169.8 million.
• Novartis stock was trading at $154.84, giving the company a market value of about $295.46 billion; the shares have moved between a 52-week low of $112.34 and high of $170.46.
• Novartis reported quarterly earnings of $2.41 per share on $14.95 billion in revenue, while Wall Street currently has a Hold consensus rating and an average price target of $141.20.

Renaissance Technologies LLC lowered its position in shares of Novartis AG (NYSE:NVS - Free Report) by 17.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,111,833 shares of the company's stock after selling 231,200 shares during the quarter. Renaissance Technologies LLC owned about 0.06% of Novartis worth $169,832,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Archer Investment Corp lifted its stake in shares of Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 80 shares during the period. Arlington Trust Co LLC bought a new stake in shares of Novartis during the 4th quarter valued at about $25,000. CrossGen Wealth LLC acquired a new stake in Novartis during the fourth quarter worth approximately $28,000. Bank of Jackson Hole Trust grew its stake in 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 purchasing an additional 187 shares during the period. Finally, Nalls Sherbakoff Group LLC bought a new stake in Novartis in the fourth quarter worth approximately $34,000. 13.12% of the stock is owned by institutional investors.

Novartis Price Performance

NVS stock opened at $154.84 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.65. The company's 50-day moving average is $151.95 and its 200-day moving average is $152.13. The stock has a market capitalization of $295.46 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.45. 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 issued its earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The business had revenue of $14.95 billion during the quarter. Equities research analysts expect that Novartis AG will post 8.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NVS shares. Citigroup reissued a "buy" rating on shares of Novartis in a research note on Wednesday. Weiss Ratings lowered shares of 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 given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently 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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