Novartis AG (NVS) Stake Increased by Mawer Investment Management Ltd.
Mawer Investment Management Ltd. lifted its position in shares of Novartis AG (NYSE:NVS) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,665,258 shares of the company’s stock after buying an additional 58,133 shares during the period. Novartis AG makes up approximately 2.0% of Mawer Investment Management Ltd.’s portfolio, making the stock its 16th largest position. Mawer Investment Management Ltd. owned about 0.11% of Novartis AG worth $228,812,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Novartis AG by 6.7% during the 3rd quarter. Pacer Advisors Inc. now owns 23,512 shares of the company’s stock worth $2,019,000 after buying an additional 1,482 shares during the last quarter. Exencial Wealth Advisors LLC increased its holdings in shares of Novartis AG by 0.7% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 176,254 shares of the company’s stock worth $15,131,000 after buying an additional 1,215 shares during the last quarter. Girard Partners LTD. acquired a new stake in shares of Novartis AG during the 3rd quarter worth approximately $243,000. Edge Advisors LLC increased its holdings in Novartis AG by 43.0% in the 3rd quarter. Edge Advisors LLC now owns 83,541 shares of the company’s stock valued at $7,171,000 after purchasing an additional 25,106 shares during the last quarter. Finally, AE Wealth Management LLC increased its holdings in Novartis AG by 24.4% in the 3rd quarter. AE Wealth Management LLC now owns 4,383 shares of the company’s stock valued at $376,000 after purchasing an additional 859 shares during the last quarter. Institutional investors and hedge funds own 10.74% of the company’s stock.
Several research firms recently weighed in on NVS. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Cowen and Company set a $90.00 target price on shares of Novartis AG and gave the company a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 26th. Barclays PLC downgraded shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Finally, Leerink Swann lifted their target price on shares of Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $85.32.
Shares of Novartis AG (NYSE:NVS) traded down $0.76 during mid-day trading on Tuesday, reaching $83.22. 4,008,600 shares of the company’s stock traded hands, compared to its average volume of 2,330,738. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock has a market cap of $198,662.67, a PE ratio of 17.68, a PEG ratio of 2.68 and a beta of 0.72.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts predict that Novartis AG will post 4.75 earnings per share for the current fiscal year.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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