Novartis AG $NVS Position Lessened by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. trimmed its position in shares of Novartis AG (NYSE:NVS) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 445,689 shares of the company’s stock after selling 255,169 shares during the period. Clark Capital Management Group Inc.’s holdings in Novartis were worth $61,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NVS. Arlington Trust Co LLC acquired a new position in Novartis during the fourth quarter worth $25,000. Bank of Jackson Hole Trust increased its position 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 buying an additional 187 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Novartis during the third quarter worth $33,000. South Plains Financial Inc. increased its position in Novartis by 39.0% during the third quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after buying an additional 76 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Novartis during the fourth quarter worth $45,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Trading Down 0.4%

Shares of NYSE:NVS opened at $150.91 on Wednesday. The company has a market cap of $287.95 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.67 and a beta of 0.46. The stock’s 50-day moving average is $149.36 and its 200-day moving average is $148.51. Novartis AG has a 52-week low of $112.34 and a 52-week high of $170.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.12). The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 earnings per share. Equities research analysts predict that Novartis AG will post 8.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVS. Morgan Stanley increased their target price on shares of Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Argus raised shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Wednesday, March 11th. Weiss Ratings downgraded shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. TD Cowen reissued a “hold” rating on shares of Novartis in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a research report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $141.20.

About Novartis

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.