FY2016 Earnings Forecast for Novartis AG Issued By Jefferies Group (NVS)
Novartis AG (NYSE:NVS) – Stock analysts at Jefferies Group raised their FY2016 earnings per share estimates for shares of Novartis AG in a research report issued on Thursday. Jefferies Group analyst J. Holford now forecasts that the firm will earn $4.89 per share for the year, up from their prior estimate of $4.87. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Novartis AG’s FY2017 earnings at $5.43 EPS.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter in the previous year, the business posted $1.25 EPS.
Several other brokerages have also commented on NVS. Argus restated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. TheStreet lowered Novartis AG from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Chardan Capital initiated coverage on Novartis AG in a research note on Tuesday, September 20th. They set a “buy” rating and a $95.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Novartis AG currently has an average rating of “Hold” and a consensus target price of $91.33.
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Novartis AG (NYSE:NVS) opened at 76.09 on Monday. The company has a 50-day moving average of $79.33 and a 200-day moving average of $78.96. Novartis AG has a 52 week low of $69.90 and a 52 week high of $94.63. The company has a market cap of $181.19 billion, a PE ratio of 27.17 and a beta of 0.57.
A number of large investors have recently modified their holdings of NVS. Integrated Investment Consultants LLC increased its stake in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares in the last quarter. Whitnell & Co. increased its stake in shares of Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares in the last quarter. Iowa State Bank acquired a new stake in shares of Novartis AG during the second quarter valued at $122,000. M&R Capital Management Inc. acquired a new stake in shares of Novartis AG during the second quarter valued at $122,000. Finally, WFG Advisors LP increased its stake in shares of Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares in the last quarter. 9.78% of the stock is owned by institutional investors and hedge funds.
Novartis AG Company Profile
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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