Hanson & Doremus Investment Management Has $692,000 Stock Position in Novartis AG $NVS

Hanson & Doremus Investment Management increased its stake in Novartis AG (NYSE:NVS) by 624.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,528 shares of the company’s stock after buying an additional 3,903 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Novartis were worth $692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. J.W. Cole Advisors Inc. raised its holdings in Novartis by 0.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 10,577 shares of the company’s stock valued at $1,348,000 after acquiring an additional 64 shares during the period. Roundview Capital LLC boosted its stake in Novartis by 2.5% in the 4th quarter. Roundview Capital LLC now owns 2,711 shares of the company’s stock valued at $374,000 after purchasing an additional 66 shares during the period. IMA Advisory Services Inc. grew its holdings in Novartis by 10.9% in the 4th quarter. IMA Advisory Services Inc. now owns 710 shares of the company’s stock valued at $98,000 after buying an additional 70 shares in the last quarter. Abundance Wealth Counselors grew its holdings in Novartis by 0.4% in the 4th quarter. Abundance Wealth Counselors now owns 16,927 shares of the company’s stock valued at $2,334,000 after buying an additional 73 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its position in Novartis by 3.5% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 2,230 shares of the company’s stock worth $307,000 after buying an additional 75 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

NYSE NVS opened at $148.85 on Tuesday. The firm’s fifty day moving average price is $148.98 and its two-hundred day moving average price is $149.02. The stock has a market cap of $284.03 billion, a PE ratio of 21.33, a PEG ratio of 2.59 and a beta of 0.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85. Novartis AG has a fifty-two week low of $112.34 and a fifty-two week high of $170.46.

Novartis (NYSE:NVS) last released its quarterly earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.44 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts expect that Novartis AG will post 8.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVS. Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a report on Thursday, March 19th. Argus raised shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, March 11th. Weiss Ratings downgraded shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley boosted their price target on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $141.20.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.