Delphi Management Inc. MA Decreases Position in Novartis AG $NVS

by · The Markets Daily

Delphi Management Inc. MA trimmed its holdings in Novartis AG (NYSE:NVS – Free Report) by 31.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,988 shares of the company’s stock after selling 3,735 shares during the quarter. Novartis comprises approximately 1.5% of Delphi Management Inc. MA’s portfolio, making the stock its 22nd biggest position. Delphi Management Inc. MA’s holdings in Novartis were worth $1,220,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after buying an additional 2,666 shares during the last quarter. AQR Capital Management LLC lifted its position in Novartis by 102.8% in the first quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock valued at $2,516,000 after acquiring an additional 11,444 shares during the last quarter. Empowered Funds LLC purchased a new stake in Novartis in the first quarter valued at $1,764,000. Sivia Capital Partners LLC boosted its stake in Novartis by 48.0% in the second quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after acquiring an additional 2,581 shares in the last quarter. Finally, Schnieders Capital Management LLC. acquired a new position in Novartis in the second quarter valued at $202,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NVS stock opened at $153.28 on Thursday. The stock’s 50-day moving average price is $148.95 and its 200 day moving average price is $149.30. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $292.49 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.70 and a beta of 0.46. Novartis AG has a 52-week low of $112.34 and a 52-week high of $170.46.

Novartis (NYSE:NVS – Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.12). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 earnings per share. As a group, equities research analysts forecast that Novartis AG will post 8.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Weiss Ratings cut Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research note on Thursday, March 19th. Finally, Argus raised 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 equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $141.20.

Check Out Our Latest Stock Report on Novartis

About Novartis

(Free Report)

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.

See Also

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