Brokerages forecast that Novartis AG (NYSE:NVS) will report earnings of $1.31 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Novartis’ earnings. The highest EPS estimate is $1.34 and the lowest is $1.27. Novartis posted earnings per share of $1.21 in the same quarter last year, which suggests a positive year over year growth rate of 8.3%. The business is expected to announce its next earnings results on Tuesday, July 17th.
According to Zacks, analysts expect that Novartis will report full year earnings of $5.28 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.34. For the next year, analysts anticipate that the firm will post earnings of $5.55 per share, with EPS estimates ranging from $5.35 to $5.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Novartis.
Novartis (NYSE:NVS) last announced its earnings results on Thursday, April 19th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. Novartis had a return on equity of 16.23% and a net margin of 16.04%. The business had revenue of $12.69 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on NVS. ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. JPMorgan Chase reaffirmed a “neutral” rating on shares of Novartis in a research report on Monday, April 9th. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, April 10th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $89.81.
Shares of Novartis traded down $0.01, reaching $77.05, during midday trading on Wednesday, according to Marketbeat Ratings. 30,814 shares of the company’s stock were exchanged, compared to its average volume of 1,705,867. Novartis has a 52-week low of $75.73 and a 52-week high of $94.19. The firm has a market cap of $178.58 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.17.
In other news, major shareholder Institutes For Biomed Novartis acquired 766,666 shares of the stock in a transaction that occurred on Monday, April 23rd. The stock was purchased at an average cost of $15.00 per share, with a total value of $11,499,990.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. CIBC World Markets Inc. increased its holdings in Novartis by 161.6% in the first quarter. CIBC World Markets Inc. now owns 88,253 shares of the company’s stock valued at $7,135,000 after buying an additional 54,512 shares during the last quarter. EagleClaw Capital Managment LLC increased its holdings in Novartis by 3.5% in the first quarter. EagleClaw Capital Managment LLC now owns 20,596 shares of the company’s stock valued at $1,664,000 after buying an additional 700 shares during the last quarter. Trust Co. of Vermont increased its holdings in Novartis by 1.0% in the first quarter. Trust Co. of Vermont now owns 112,950 shares of the company’s stock valued at $9,132,000 after buying an additional 1,093 shares during the last quarter. Royal Bank of Canada increased its holdings in Novartis by 3.3% in the first quarter. Royal Bank of Canada now owns 1,415,438 shares of the company’s stock valued at $114,439,000 after buying an additional 45,342 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Novartis in the first quarter valued at about $103,000. 10.97% of the stock is owned by hedge funds and other institutional investors.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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