Triasima Portfolio Management inc. Trims Holdings in Novartis AG $NVS

Triasima Portfolio Management inc. lowered its stake in shares of Novartis AG (NYSE:NVS) by 14.7% in the second 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVS. Massachusetts Financial Services Co. MA grew its position in shares of Novartis by 14.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 113,737 shares of the company’s stock worth $15,681,000 after buying an additional 14,352 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Novartis by 36.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 14,815 shares of the company’s stock valued at $2,043,000 after acquiring an additional 3,967 shares during the period. Truist Financial Corp boosted its stake in Novartis by 6.6% during the fourth quarter. Truist Financial Corp now owns 887,296 shares of the company’s stock worth $122,332,000 after acquiring an additional 54,682 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Novartis by 68.2% during the fourth quarter. Evergreen Capital Management LLC now owns 47,245 shares of the company’s stock worth $6,514,000 after acquiring an additional 19,155 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after purchasing an additional 2,666 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS stock opened at $152.35 on Thursday. The firm 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 firm has a fifty day simple moving average of $153.61 and a two-hundred day simple moving average of $153.38. Novartis AG has a 12 month low of $119.97 and a 12 month high of $170.46. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Weiss Ratings restated 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Novartis presently has an average rating of “Hold” and an average 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.