Q3 2017 EPS Estimates for Novartis AG Lifted by Analyst (NVS)
Novartis AG (NYSE:NVS) – Analysts at Leerink Swann upped their Q3 2017 EPS estimates for Novartis AG in a research note issued on Tuesday. Leerink Swann analyst S. Fernandez now anticipates that the company will post earnings per share of $1.25 for the quarter, up from their prior forecast of $1.20. Leerink Swann has a “Market Perform” rating and a $83.00 price objective on the stock. Leerink Swann also issued estimates for Novartis AG’s Q4 2017 earnings at $1.20 EPS, FY2017 earnings at $4.80 EPS, FY2018 earnings at $5.24 EPS and FY2019 earnings at $5.53 EPS.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Q3 2017 EPS Estimates for Novartis AG Lifted by Analyst (NVS)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/07/21/q3-2017-eps-estimates-for-novartis-ag-lifted-by-analyst-nvs.html.
Other analysts have also issued reports about the company. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, April 18th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. Vetr lowered Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research note on Tuesday, April 25th. Cowen and Company lowered Novartis AG from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $87.00 to $77.00 in a research note on Wednesday, April 5th. Finally, Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Novartis AG currently has a consensus rating of “Hold” and a consensus price target of $81.71.
Novartis AG (NVS) opened at 85.42 on Friday. The company has a market capitalization of $202.07 billion, a P/E ratio of 32.11 and a beta of 0.73. The firm has a 50-day moving average price of $82.88 and a 200 day moving average price of $77.36. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.
In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.01% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Watch Point Trust Co raised its position in Novartis AG by 1.6% in the first quarter. Watch Point Trust Co now owns 25,141 shares of the company’s stock valued at $1,868,000 after buying an additional 385 shares during the period. Peachtree Investment Advisors Inc. boosted its stake in shares of Novartis AG by 8.5% in the first quarter. Peachtree Investment Advisors Inc. now owns 12,125 shares of the company’s stock valued at $901,000 after buying an additional 950 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Novartis AG by 168.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 317,697 shares of the company’s stock valued at $23,595,000 after buying an additional 199,198 shares in the last quarter. Moreno Evelyn V boosted its stake in shares of Novartis AG by 15.3% in the first quarter. Moreno Evelyn V now owns 87,015 shares of the company’s stock valued at $6,463,000 after buying an additional 11,520 shares in the last quarter. Finally, Rosenbaum Jay D. boosted its stake in shares of Novartis AG by 26.7% in the first quarter. Rosenbaum Jay D. now owns 4,745 shares of the company’s stock valued at $352,000 after buying an additional 1,000 shares in the last quarter. 11.29% of the stock is owned by institutional investors and hedge funds.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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