Novartis AG $NVS Position Trimmed by Paradigm Capital Management LLC NV

Paradigm Capital Management LLC NV decreased its position in Novartis AG (NYSE:NVS) by 8.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,700 shares of the company’s stock after selling 245 shares during the period. Paradigm Capital Management LLC NV’s holdings in Novartis were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC boosted its stake in Novartis by 2.3% in the 1st quarter. RWA Wealth Partners LLC now owns 9,782 shares of the company’s stock worth $1,091,000 after purchasing an additional 217 shares during the period. Qtron Investments LLC boosted its stake in Novartis by 10.5% in the 1st quarter. Qtron Investments LLC now owns 11,759 shares of the company’s stock worth $1,311,000 after purchasing an additional 1,114 shares during the period. Aptus Capital Advisors LLC boosted its stake in Novartis by 2.3% in the 1st quarter. Aptus Capital Advisors LLC now owns 16,398 shares of the company’s stock worth $1,828,000 after purchasing an additional 372 shares during the period. Northern Trust Corp boosted its stake in Novartis by 2.2% in the 1st quarter. Northern Trust Corp now owns 2,180,281 shares of the company’s stock worth $243,058,000 after purchasing an additional 47,690 shares during the period. Finally, Brooklyn Investment Group boosted its stake in Novartis by 1,148.0% in the 1st quarter. Brooklyn Investment Group now owns 7,026 shares of the company’s stock worth $783,000 after purchasing an additional 6,463 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.50.

Novartis Stock Down 0.2%

NVS stock opened at $123.96 on Tuesday. Novartis AG has a 12-month low of $96.06 and a 12-month high of $124.83. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The company has a market cap of $261.86 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.74 and a beta of 0.62. The company has a 50 day moving average of $118.79 and a two-hundred day moving average of $113.23.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 EPS. On average, equities analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis 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.