Novartis AG (NYSE:NVS) Shares Purchased by HM Payson & Co.

HM Payson & Co. increased its stake in Novartis AG (NYSE:NVS) by 12.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,163 shares of the company’s stock after acquiring an additional 358 shares during the period. HM Payson & Co.’s holdings in Novartis were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NVS. New Millennium Group LLC acquired a new position in shares of Novartis during the 2nd quarter valued at $28,000. Clearstead Trust LLC lifted its holdings in Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Novartis during the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Novartis during the 2nd quarter valued at about $30,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Novartis in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS stock opened at $109.34 on Friday. The company has a market capitalization of $223.49 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.59 and a beta of 0.57. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $115.76 and its 200-day simple moving average is $109.12.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the company posted $1.74 EPS. On average, sell-side analysts predict that Novartis AG will post 7.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.50.

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.