Lido Advisors LLC Lowers Position in Novartis AG $NVS

Lido Advisors LLC lowered its stake in shares of Novartis AG (NYSE:NVS) by 20.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,678 shares of the company’s stock after selling 9,061 shares during the period. Lido Advisors LLC’s holdings in Novartis were worth $5,298,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVS. Arlington Trust Co LLC acquired a new stake in shares of Novartis during the 4th quarter worth $25,000. Archer Investment Corp boosted its holdings in Novartis by 93.0% in the first 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. CrossGen Wealth LLC acquired a new position in Novartis in the fourth quarter valued at $28,000. Bank of Jackson Hole Trust grew its position in Novartis by 425.0% during the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 187 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Novartis during the third quarter valued at about $33,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings downgraded Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus price target of $141.20.

Novartis Stock Performance

Shares of NYSE:NVS opened at $154.84 on Friday. The company has a market cap of $295.46 billion, a P/E ratio of 23.35, a PEG ratio of 2.69 and a beta of 0.45. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.65 and a current ratio of 0.86. Novartis AG has a one year low of $112.34 and a one year high of $170.46. The business’s 50-day simple moving average is $151.95 and its 200 day simple moving average is $152.13.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The firm had revenue of $14.95 billion during the quarter. On average, sell-side analysts forecast that Novartis AG will post 8.78 earnings per share for the current fiscal year.

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.