Novartis AG (NVS) to Post Q3 2017 Earnings of $1.24 Per Share, Jefferies Group Forecasts
Novartis AG (NYSE:NVS) – Investment analysts at Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for shares of Novartis AG in a report issued on Wednesday. Jefferies Group analyst J. Holford expects that the company will earn $1.24 per share for the quarter. Jefferies Group also issued estimates for Novartis AG’s FY2020 earnings at $6.58 EPS and FY2021 earnings at $7.50 EPS.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, August 29th. Credit Suisse Group lowered Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target for the company. in a research note on Wednesday, July 5th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $85.12.
Novartis AG (NVS) opened at 86.07 on Thursday. The stock has a 50 day moving average price of $84.73 and a 200 day moving average price of $81.29. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The stock has a market capitalization of $201.65 billion, a PE ratio of 31.42 and a beta of 0.73.
Institutional investors have recently modified their holdings of the company. Westwood Holdings Group Inc. grew its position in shares of Novartis AG by 5.6% during the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after purchasing an additional 285 shares in the last quarter. GFS Advisors LLC grew its position in shares of Novartis AG by 6.5% during the second quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,300 shares in the last quarter. Mechanics Bank Trust Department purchased a new position in shares of Novartis AG during the second quarter valued at about $389,000. ProVise Management Group LLC grew its position in shares of Novartis AG by 12.2% during the second quarter. ProVise Management Group LLC now owns 85,041 shares of the company’s stock valued at $7,099,000 after purchasing an additional 9,227 shares in the last quarter. Finally, Union Bankshares Corp grew its position in shares of Novartis AG by 0.3% during the second quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock valued at $3,132,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.
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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