Novartis AG (NYSE:NVS) Shares Acquired by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its position in Novartis AG (NYSE:NVS - Free Report) by 624.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,528 shares of the company's stock after purchasing an additional 3,903 shares during the quarter. Hanson & Doremus Investment Management's holdings in Novartis were worth $505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Novartis by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,183,855 shares of the company's stock valued at $796,372,000 after buying an additional 90,823 shares during the period. Renaissance Technologies LLC raised its stake in shares of Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company's stock valued at $259,706,000 after acquiring an additional 368,171 shares during the period. Northern Trust Corp lifted its holdings in shares of Novartis by 23.1% during the 4th quarter. Northern Trust Corp now owns 2,132,591 shares of the company's stock valued at $207,522,000 after acquiring an additional 399,862 shares in the last quarter. Fisher Asset Management LLC boosted its position in Novartis by 17.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company's stock worth $194,908,000 after purchasing an additional 296,950 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Novartis in the 4th quarter valued at $109,739,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas upgraded Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $123.38.

Novartis Stock Down 1.5%

Shares of Novartis stock traded down $1.72 during trading hours on Tuesday, hitting $116.37. 1,306,350 shares of the company's stock traded hands, compared to its average volume of 1,579,594. Novartis AG has a twelve month low of $96.06 and a twelve month high of $120.92. The company has a market cap of $245.82 billion, a PE ratio of 18.18, a PEG ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $112.17 and a 200-day simple moving average of $107.20.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.16. Novartis had a return on equity of 39.44% and a net margin of 24.70%. The firm had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the firm earned $1.80 EPS. Novartis's quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

About Novartis

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.