Townsquare Capital LLC Decreases Position in Novartis AG $NVS

Townsquare Capital LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 67.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,894 shares of the company’s stock after selling 3,966 shares during the period. Townsquare Capital LLC’s holdings in Novartis were worth $243,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. grew its position in Novartis by 1.7% during the 3rd quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after acquiring an additional 78 shares during the last quarter. WealthPlan Investment Management LLC grew its holdings in shares of Novartis by 0.9% in the third quarter. WealthPlan Investment Management LLC now owns 9,394 shares of the company’s stock worth $1,205,000 after purchasing an additional 80 shares during the last quarter. Capital Advisors Inc. OK increased its stake in shares of Novartis by 4.3% in the third quarter. Capital Advisors Inc. OK now owns 2,027 shares of the company’s stock worth $260,000 after buying an additional 83 shares during the period. Glenview Trust co raised its holdings in Novartis by 2.3% during the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock valued at $460,000 after buying an additional 84 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Novartis by 4.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on NVS shares. HC Wainwright cut shares of Novartis to a “neutral” rating in a research report on Monday, October 27th. Cfra Research raised Novartis to a “hold” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Friday, January 16th. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 6th. Finally, Citigroup assumed coverage on shares of Novartis in a report on Tuesday. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and an average target price of $119.75.

Novartis Price Performance

Shares of NVS stock opened at $148.71 on Friday. The business’s fifty day moving average is $138.39 and its 200 day moving average is $129.61. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The stock has a market cap of $314.13 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.95 and a beta of 0.51. Novartis AG has a twelve month low of $97.71 and a twelve month high of $152.48.

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.