Novartis AG $NVS Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Novartis AG (NYSE:NVS) by 89.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,412 shares of the company’s stock after selling 87,109 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Novartis were worth $1,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. J.W. Cole Advisors Inc. boosted its stake in Novartis by 0.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 10,577 shares of the company’s stock valued at $1,348,000 after buying an additional 64 shares in the last quarter. Roundview Capital LLC raised its position in Novartis by 2.5% in the fourth quarter. Roundview Capital LLC now owns 2,711 shares of the company’s stock worth $374,000 after acquiring an additional 66 shares in the last quarter. IMA Advisory Services Inc. lifted its holdings in Novartis by 10.9% in the 4th quarter. IMA Advisory Services Inc. now owns 710 shares of the company’s stock valued at $98,000 after acquiring an additional 70 shares during the last quarter. Abundance Wealth Counselors boosted its position in shares of Novartis by 0.4% during the 4th quarter. Abundance Wealth Counselors now owns 16,927 shares of the company’s stock valued at $2,334,000 after purchasing an additional 73 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in shares of Novartis by 3.5% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 2,230 shares of the company’s stock valued at $307,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.0%

Shares of NYSE NVS opened at $156.18 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. Novartis AG has a 12 month low of $112.34 and a 12 month high of $170.46. The company has a market cap of $298.01 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 2.67 and a beta of 0.45. The business has a fifty day simple moving average of $152.66 and a 200-day simple moving average of $152.80.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The firm had revenue of $14.95 billion for the quarter. Sell-side analysts predict that Novartis AG will post 8.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVS shares. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. 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 company. According to MarketBeat, Novartis currently has an average rating of “Hold” and a consensus target price 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.