Federated Hermes Inc. Cuts Stake in Novartis AG $NVS

Federated Hermes Inc. lowered its stake in shares of Novartis AG (NYSE:NVS) by 48.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,422 shares of the company’s stock after selling 48,181 shares during the quarter. Federated Hermes Inc.’s holdings in Novartis were worth $6,594,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NVS. Fisher Asset Management LLC raised its stake in shares of Novartis by 5.3% in the second quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after buying an additional 358,282 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Novartis by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 5,581,576 shares of the company’s stock worth $675,427,000 after acquiring an additional 78,483 shares during the period. Envestnet Asset Management Inc. increased its holdings in Novartis by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,736,891 shares of the company’s stock worth $210,181,000 after acquiring an additional 128,302 shares during the last quarter. State Street Corp raised its stake in Novartis by 0.8% in the 2nd quarter. State Street Corp now owns 1,597,830 shares of the company’s stock valued at $195,552,000 after acquiring an additional 12,345 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of Novartis by 3.1% in the second quarter. Chevy Chase Trust Holdings LLC now owns 1,135,326 shares of the company’s stock worth $137,386,000 after purchasing an additional 33,954 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

NVS has been the topic of a number of recent research reports. Cfra Research upgraded shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. TD Cowen restated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. Cfra set a $126.00 price objective on shares of Novartis and gave the company a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Trading Up 1.6%

NYSE NVS opened at $151.09 on Tuesday. The stock’s 50-day simple moving average is $138.88 and its two-hundred day simple moving average is $129.95. Novartis AG has a twelve month low of $97.71 and a twelve month high of $152.48. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $319.17 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.94 and a beta of 0.50.

About Novartis

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.