Q2 2023 EPS Estimates for Novartis AG Raised by Zacks Research (NYSE:NVS)

Posted by Defense World Staff on Jun 23rd, 2023

Novartis AG (NYSE:NVS – Get Rating) – Zacks Research upped their Q2 2023 earnings estimates for shares of Novartis in a research note issued on Monday, June 19th. Zacks Research analyst E. Bagri now anticipates that the company will earn $1.66 per share for the quarter, up from their prior forecast of $1.64. The consensus estimate for Novartis’ current full-year earnings is $6.72 per share. Zacks Research also issued estimates for Novartis’ Q2 2024 earnings at $1.67 EPS and Q1 2025 earnings at $1.76 EPS.

Novartis (NYSE:NVS – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.16. Novartis had a net margin of 13.78% and a return on equity of 23.29%. The company had revenue of $12.95 billion during the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year.

Several other brokerages also recently issued reports on NVS. StockNews.com started coverage on shares of Novartis in a research report on Thursday, May 18th. They issued a “strong-buy” rating for the company. BTIG Research increased their target price on Novartis from $75.00 to $85.00 in a research note on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.25.

Novartis Stock Down 0.4 %

NVS opened at $100.54 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 1.05. Novartis has a 1 year low of $74.09 and a 1 year high of $105.56. The firm has a 50 day moving average price of $100.78 and a 200 day moving average price of $93.08. The company has a market cap of $213.10 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.54.

Institutional Investors Weigh In On Novartis

Several large investors have recently added to or reduced their stakes in the stock. DT Investment Partners LLC acquired a new position in shares of Novartis during the first quarter valued at $26,000. TCI Wealth Advisors Inc. increased its holdings in shares of Novartis by 193.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 293 shares of the company’s stock valued at $27,000 after purchasing an additional 193 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Novartis during the fourth quarter valued at $27,000. Financial Management Professionals Inc. grew its holdings in Novartis by 2,018.8% during the fourth quarter. Financial Management Professionals Inc. now owns 339 shares of the company’s stock worth $31,000 after acquiring an additional 323 shares during the period. Finally, ZRC Wealth Management LLC acquired a new position in Novartis during the first quarter worth about $32,000. 8.07% of the stock is owned by institutional investors and hedge funds.

Novartis Company Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.