Triasima Portfolio Management inc. Sells 11,777 Shares of Novartis AG (NYSE:NVS)

Triasima Portfolio Management inc. trimmed its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,498 shares of the company's stock after selling 11,777 shares during the period. Triasima Portfolio Management inc.'s holdings in Novartis were worth $1,995,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NVS. Union Bancaire Privee UBP SA acquired a new stake in shares of Novartis during the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter valued at approximately $28,000. Fortitude Family Office LLC grew its position in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company's stock worth $37,000 after buying an additional 267 shares in the last quarter. Brooklyn Investment Group bought a new position in Novartis during the 4th quarter valued at $55,000. Finally, Golden State Wealth Management LLC acquired a new position in Novartis during the 4th quarter worth $69,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday. Erste Group Bank reaffirmed a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.38.

Novartis Trading Up 1.0 %

NVS stock traded up $1.05 during mid-day trading on Tuesday, reaching $107.90. 1,072,855 shares of the stock traded hands, compared to its average volume of 1,947,740. The company has a market cap of $220.55 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.70 and a beta of 0.58. The stock's fifty day moving average is $100.36 and its 200-day moving average is $108.37. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, sell-side analysts expect that Novartis AG will post 8.42 earnings per share for the current year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.