Mawer Investment Management Ltd. Trims Stake in Novartis AG (NYSE:NVS)

Mawer Investment Management Ltd. trimmed its stake in Novartis AG (NYSE:NVS) by 61.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,342,072 shares of the company’s stock after selling 2,176,642 shares during the period. Mawer Investment Management Ltd.’s holdings in Novartis were worth $109,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of Novartis in the 2nd quarter worth $30,000. Herold Advisors Inc. purchased a new stake in shares of Novartis in the 3rd quarter worth $39,000. Benjamin Edwards Inc. increased its stake in shares of Novartis by 153.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 507 shares of the company’s stock worth $41,000 after purchasing an additional 307 shares in the last quarter. Parisi Gray Wealth Management purchased a new stake in shares of Novartis in the 2nd quarter worth $44,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of Novartis in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 9.82% of the company’s stock.

Shares of NVS traded down $0.35 during midday trading on Friday, hitting $90.27. 60,259 shares of the company traded hands, compared to its average volume of 2,557,731. The firm has a 50 day moving average of $84.12 and a 200-day moving average of $86.81. Novartis AG has a 52 week low of $79.34 and a 52 week high of $98.52. The stock has a market cap of $201.91 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88.

Novartis (NYSE:NVS) last released its quarterly earnings data on Monday, October 25th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Novartis had a net margin of 19.17% and a return on equity of 25.64%. The business had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that Novartis AG will post 6.34 earnings per share for the current fiscal year.

A number of brokerages have issued reports on NVS. Bryan, Garnier & Co reiterated a “neutral” rating and issued a $85.00 price target (down previously from $115.00) on shares of Novartis in a research note on Friday, December 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a research note on Wednesday, October 27th. Berenberg Bank reiterated a “buy” rating on shares of Novartis in a research note on Tuesday, October 12th. Redburn Partners lowered Novartis from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft lowered Novartis from a “hold” rating to a “sell” rating in a research note on Monday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $92.75.

Novartis Profile

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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