Bryn Mawr Trust Advisors LLC Reduces Stock Position in Novartis AG $NVS

Bryn Mawr Trust Advisors LLC cut its holdings in Novartis AG (NYSE:NVS) by 36.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,002 shares of the company’s stock after selling 3,423 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Novartis were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Archer Investment Corp lifted its holdings in shares of Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Novartis by 11.0% in the first quarter. Chicago Partners Investment Group LLC now owns 3,219 shares of the company’s stock worth $474,000 after acquiring an additional 319 shares in the last quarter. Tevis Investment Management bought a new stake in Novartis during the first quarter worth approximately $236,000. Moment Partners LLC bought a new stake in Novartis during the first quarter worth approximately $209,000. Finally, Global Assets Advisory LLC purchased a new stake in Novartis during the first quarter valued at approximately $45,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

Novartis stock opened at $150.45 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The firm has a market capitalization of $287.08 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.64 and a beta of 0.45. The company’s 50-day moving average is $151.06 and its 200 day moving average is $151.40.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. During the same period in the previous year, the business earned $2.28 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts forecast that Novartis AG will post 8.77 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVS. Sanford C. Bernstein raised Novartis to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings downgraded Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.