Triasima Portfolio Management inc. Cuts Stock Holdings in Novartis AG $NVS

Triasima Portfolio Management inc. lowered its stake in shares of Novartis AG (NYSE:NVS) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,755 shares of the company’s stock after selling 7,715 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Novartis were worth $7,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVS. Rydar Equities Inc. bought a new position in Novartis during the 2nd quarter valued at $403,000. Sound Income Strategies LLC grew its stake in shares of Novartis by 428.6% in the 2nd quarter. Sound Income Strategies LLC now owns 3,034 shares of the company’s stock worth $475,000 after acquiring an additional 2,460 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Novartis by 10.6% in the 2nd quarter. IFP Advisors Inc now owns 4,068 shares of the company’s stock worth $638,000 after acquiring an additional 389 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Novartis by 3.2% in the second quarter. Gateway Investment Advisers LLC now owns 6,564 shares of the company’s stock valued at $1,029,000 after purchasing an additional 202 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its holdings in shares of Novartis by 92.1% in the second quarter. Interchange Capital Partners LLC now owns 3,832 shares of the company’s stock valued at $601,000 after purchasing an additional 1,837 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup restated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $141.20.

Novartis Stock Down 1.5%

Shares of NYSE:NVS opened at $152.35 on Thursday. Novartis AG has a 1 year low of $119.97 and a 1 year high of $170.46. The company has a market capitalization of $290.71 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.45. The business has a fifty day moving average price of $153.61 and a two-hundred day moving average price of $153.38. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67.

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

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.