Novartis (NVS) Releases Quarterly Earnings, Misses Expectations By $0.05 EPS
Novartis (NYSE:NVS) announced its earnings results on Tuesday. The company reported $1.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.31 by $0.05, ARN reports. The company had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company posted $1.34 earnings per share. Novartis’s revenue was up 3.8% compared to the same quarter last year.
Novartis (NYSE:NVS) opened at 75.30 on Tuesday. Novartis has a 52 week low of $58.60 and a 52 week high of $77.10. The stock has a 50-day moving average of $75.55 and a 200-day moving average of $73.46. The company has a market cap of $184.3 billion and a P/E ratio of 19.50.
NVS has been the subject of a number of recent research reports. Analysts at Societe Generale raised their price target on shares of Novartis from $82.00 to $83.00 in a research note to investors on Friday, October 11th. They now have a “buy” rating on the stock. On a related note, analysts at JPMorgan Chase & Co. downgraded shares of Novartis from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. Finally, analysts at Barclays downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a research note to investors on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Novartis currently has a consensus rating of “Hold” and a consensus price target of $82.00.
Novartis AG is a Switzerland-based holding that, through its subsidiaries, is engaged in the research, development, manufacture and marketing of healthcare products.
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