Novartis AG (NYSE:NVS) – Equities researchers at Jefferies Group upped their FY2016 earnings estimates for shares of Novartis AG in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Holford now forecasts that the brokerage will post earnings per share of $4.89 for the year, up from their prior forecast of $4.87. Jefferies Group 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 issued its earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share.
A number of other analysts have also recently weighed in on NVS. TheStreet upgraded Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Monday, July 11th. Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Wednesday, July 13th. Finally, Argus reiterated a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $91.33.
Shares of Novartis AG (NYSE:NVS) opened at 75.58 on Monday. The stock has a market cap of $179.97 billion, a P/E ratio of 26.98 and a beta of 0.57. Novartis AG has a 52 week low of $69.90 and a 52 week high of $93.72. The stock has a 50 day moving average price of $79.22 and a 200-day moving average price of $79.08.
A number of large investors have recently made changes to their positions in NVS. Dearborn Partners LLC raised its stake in shares of Novartis AG by 3.1% in the second quarter. Dearborn Partners LLC now owns 342,484 shares of the company’s stock worth $28,258,000 after buying an additional 10,427 shares in the last quarter. Bartlett & Co. LLC raised its stake in shares of Novartis AG by 1.2% in the second quarter. Bartlett & Co. LLC now owns 446,714 shares of the company’s stock worth $36,858,000 after buying an additional 5,270 shares in the last quarter. Compass Capital Management Inc. raised its stake in shares of Novartis AG by 15.3% in the second quarter. Compass Capital Management Inc. now owns 247,197 shares of the company’s stock worth $20,396,000 after buying an additional 32,845 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Novartis AG by 1.8% in the first quarter. Royal Bank of Canada now owns 1,070,573 shares of the company’s stock worth $77,553,000 after buying an additional 18,714 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. acquired a new stake in shares of Novartis AG during the second quarter worth $26,632,000. 9.77% 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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