BNP Paribas Financial Markets Has $10.39 Million Holdings in Novartis AG $NVS

BNP Paribas Financial Markets cut its stake in Novartis AG (NYSE:NVS) by 59.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,357 shares of the company’s stock after selling 108,887 shares during the quarter. BNP Paribas Financial Markets’ holdings in Novartis were worth $10,389,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Novartis during the 3rd quarter worth approximately $33,000. South Plains Financial Inc. grew its position in Novartis by 39.0% during the 3rd quarter. South Plains Financial Inc. now owns 271 shares of the company’s stock worth $35,000 after acquiring an additional 76 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Novartis during the 4th quarter worth approximately $45,000. Finally, Cornerstone Planning Group LLC grew its position in Novartis by 15,950.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 321 shares of the company’s stock worth $47,000 after acquiring an additional 319 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Down 1.7%

Shares of NVS opened at $146.65 on Tuesday. The firm has a market capitalization of $279.83 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.62 and a beta of 0.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85. The business’s fifty day moving average price is $149.51 and its two-hundred day moving average price is $147.52. Novartis AG has a 52 week low of $112.34 and a 52 week high of $170.46.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 earnings per share. On average, analysts predict that Novartis AG will post 8.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen restated a “hold” rating on shares of Novartis in a research report on Tuesday, February 17th. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, February 12th. Morgan Stanley increased their price target on Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Finally, Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.20.

Novartis 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.