MAI Capital Management Has $2.02 Million Stock Position in Novartis AG (NYSE:NVS)

MAI Capital Management trimmed its holdings in Novartis AG (NYSE:NVS - Free Report) by 52.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NVS. Claro Advisors LLC acquired a new stake in shares of Novartis during the 3rd quarter valued at approximately $533,000. Adero Partners LLC increased its position in Novartis by 45.2% in the third quarter. Adero Partners LLC now owns 2,807 shares of the company's stock worth $323,000 after buying an additional 874 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new stake in Novartis in the third quarter worth $317,000. Natixis Advisors LLC increased its position in Novartis by 2.9% in the third quarter. Natixis Advisors LLC now owns 938,844 shares of the company's stock worth $107,986,000 after buying an additional 26,317 shares during the period. Finally, Coastline Trust Co increased its position in Novartis by 41.6% in the third quarter. Coastline Trust Co now owns 20,621 shares of the company's stock worth $2,372,000 after buying an additional 6,060 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVS has been the topic of several analyst reports. Jefferies Financial Group lowered Novartis from a "buy" rating to a "hold" rating in a research report on Tuesday, September 3rd. Erste Group Bank reaffirmed a "hold" rating on shares of Novartis in a research report on Tuesday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America cut Novartis from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $121.50.

Novartis Trading Down 0.2 %

Shares of NVS stock opened at $103.09 on Thursday. The stock has a 50-day simple moving average of $112.34 and a 200 day simple moving average of $110.05. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The stock has a market capitalization of $210.72 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.49 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion during the quarter, compared to analysts' expectations of $12.62 billion. During the same quarter last year, the business posted $1.74 earnings per share. On average, sell-side analysts expect that Novartis AG will post 7.66 earnings per share for the current fiscal 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.