FY2017 EPS Estimates for Novartis AG Lifted by Analyst (NVS)
Novartis AG (NYSE:NVS) – Stock analysts at Jefferies Group upped their FY2017 EPS estimates for Novartis AG in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Holford now anticipates that the company will earn $4.79 per share for the year, up from their previous forecast of $4.77. Jefferies Group also issued estimates for Novartis AG’s FY2018 earnings at $5.26 EPS, FY2019 earnings at $5.90 EPS, FY2020 earnings at $6.48 EPS and FY2021 earnings at $7.32 EPS.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The firm had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS.
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A number of other brokerages also recently commented on NVS. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 26th. Zacks Investment Research downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Leerink Swann boosted their target price on shares of Novartis AG from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.28.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. West Coast Financial LLC boosted its stake in Novartis AG by 12.1% in the third quarter. West Coast Financial LLC now owns 8,362 shares of the company’s stock valued at $718,000 after acquiring an additional 902 shares in the last quarter. Trillium Asset Management LLC boosted its stake in Novartis AG by 6.6% in the third quarter. Trillium Asset Management LLC now owns 111,677 shares of the company’s stock valued at $9,587,000 after acquiring an additional 6,885 shares in the last quarter. Forward Management LLC boosted its stake in Novartis AG by 48.9% in the third quarter. Forward Management LLC now owns 31,013 shares of the company’s stock valued at $2,662,000 after acquiring an additional 10,181 shares in the last quarter. Parkwood LLC boosted its stake in Novartis AG by 11.4% in the third quarter. Parkwood LLC now owns 58,273 shares of the company’s stock valued at $5,003,000 after acquiring an additional 5,958 shares in the last quarter. Finally, Watch Point Trust Co boosted its stake in Novartis AG by 2.9% in the third quarter. Watch Point Trust Co now owns 26,601 shares of the company’s stock valued at $2,283,000 after acquiring an additional 755 shares in the last quarter. Institutional investors own 10.94% 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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