MAI Capital Management Sells 19,168 Shares of Novartis AG (NYSE:NVS)

MAI Capital Management lessened its stake in shares of Novartis AG (NYSE:NVS) by 52.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,589 shares of the company’s stock after selling 19,168 shares during the period. MAI Capital Management’s holdings in Novartis were worth $2,023,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Novartis by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Novartis by 0.6% in the first quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after acquiring an additional 16,015 shares in the last quarter. Magnetar Financial LLC grew its holdings in Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Novartis by 191.1% during the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after purchasing an additional 1,250,318 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in shares of Novartis by 31.7% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,112,491 shares of the company’s stock valued at $118,436,000 after purchasing an additional 267,490 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

NYSE:NVS opened at $103.09 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The company has a 50 day moving average price of $112.34 and a 200-day moving average price of $110.05. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The firm has a market cap of $210.72 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.58.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the company earned $1.74 earnings per share. Equities research analysts forecast that Novartis AG will post 7.63 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on NVS. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday. Finally, BMO Capital Markets raised their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.50.

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.