Analysts Set Expectations for Novartis AG’s FY2017 Earnings (NVS)
Novartis AG (NYSE:NVS) – Analysts at Leerink Swann boosted their FY2017 EPS estimates for Novartis AG in a note issued to investors on Tuesday. Leerink Swann analyst S. Fernandez now anticipates that the brokerage will post earnings per share of $5.24 for the year, up from their previous forecast of $5.22. Leerink Swann also issued estimates for Novartis AG’s FY2018 earnings at $5.89 EPS, FY2019 earnings at $6.30 EPS and FY2020 earnings at $6.56 EPS.
Several other research firms have also commented on NVS. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Monday, July 11th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. TheStreet upgraded shares of Novartis AG from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Finally, Chardan Capital started coverage on shares of Novartis AG in a research report on Tuesday. They issued a “buy” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Novartis AG presently has an average rating of “Hold” and an average target price of $91.83.
Shares of Novartis AG (NYSE:NVS) traded up 0.58% during mid-day trading on Thursday, reaching $81.99. The company’s stock had a trading volume of 1,196,109 shares. Novartis AG has a 1-year low of $69.90 and a 1-year high of $95.11. The company has a market capitalization of $195.24 billion, a price-to-earnings ratio of 29.27 and a beta of 0.58. The firm’s 50 day moving average price is $80.76 and its 200-day moving average price is $78.35.
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Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same quarter in the previous year, the company earned $1.25 earnings per share.
A number of institutional investors have recently bought and sold shares of NVS. Franklin Resources Inc. increased its position in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock worth $869,189,000 after buying an additional 2,195,618 shares in the last quarter. Parnassus Investments CA increased its position in Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock worth $287,291,000 after buying an additional 1,323,724 shares in the last quarter. Thomaspartners Inc. increased its position in Novartis AG by 76.6% in the second quarter. Thomaspartners Inc. now owns 2,620,677 shares of the company’s stock worth $216,232,000 after buying an additional 1,136,338 shares in the last quarter. Aristotle Capital Management LLC increased its position in Novartis AG by 31.9% in the second quarter. Aristotle Capital Management LLC now owns 2,736,946 shares of the company’s stock worth $225,825,000 after buying an additional 662,285 shares in the last quarter. Finally, Douglas Lane & Associates LLC bought a new position in Novartis AG during the first quarter worth $36,474,000. 9.78% of the stock is currently owned by institutional investors.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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