Calydon Capital Decreases Stock Holdings in Novartis AG $NVS

Calydon Capital lowered its stake in shares of Novartis AG (NYSE:NVS) by 48.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,320 shares of the company’s stock after selling 5,908 shares during the period. Calydon Capital’s holdings in Novartis were worth $810,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVS. Raymond James Financial Inc. increased its position in Novartis by 77.7% during the third quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock valued at $211,362,000 after acquiring an additional 720,860 shares during the last quarter. Bank of Montreal Can boosted its position in Novartis by 85.0% in the third quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock worth $134,035,000 after purchasing an additional 480,201 shares during the last quarter. Fisher Asset Management LLC boosted its position in Novartis by 5.3% in the second quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock worth $861,762,000 after purchasing an additional 358,282 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Novartis by 52.9% in the second quarter. Balyasny Asset Management L.P. now owns 876,956 shares of the company’s stock worth $106,120,000 after purchasing an additional 303,553 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. grew its stake in shares of Novartis by 78.0% during the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 606,780 shares of the company’s stock valued at $77,813,000 after purchasing an additional 265,861 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the topic of several recent research reports. Weiss Ratings upgraded shares of Novartis from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, February 6th. DZ Bank lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Bank of America upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. HSBC reiterated a “reduce” rating and set a $112.00 price target on shares of Novartis in a research note on Wednesday, December 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Novartis in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.80.

Novartis Stock Down 0.5%

NVS stock opened at $153.46 on Friday. Novartis AG has a twelve month low of $97.71 and a twelve month high of $170.46. The company has a quick ratio of 0.89, a current ratio of 1.12 and a debt-to-equity ratio of 0.60. The stock has a market cap of $324.18 billion, a P/E ratio of 21.43, a PEG ratio of 2.34 and a beta of 0.49. The business’s 50-day moving average price is $154.36 and its 200-day moving average price is $138.31.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Novartis had a return on equity of 40.53% and a net margin of 25.65%.The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $13.85 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Novartis Announces Dividend

The company also recently declared an annual dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 11th will be given a $4.773 dividend. This represents a dividend yield of 306.0%. The ex-dividend date is Wednesday, March 11th. Novartis’s dividend payout ratio is presently 43.30%.

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.