Novartis AG (NYSE:NVS – Free Report) – Equities research analysts at Zacks Research lifted their Q3 2023 earnings per share (EPS) estimates for shares of Novartis in a research note issued to investors on Tuesday, September 5th. Zacks Research analyst E. Bagri now expects that the company will earn $1.72 per share for the quarter, up from their previous forecast of $1.68. The consensus estimate for Novartis’ current full-year earnings is $6.92 per share. Zacks Research also issued estimates for Novartis’ Q4 2023 earnings at $1.61 EPS, FY2023 earnings at $6.86 EPS, Q1 2024 earnings at $1.62 EPS, Q2 2024 earnings at $1.73 EPS, Q3 2024 earnings at $1.99 EPS, Q4 2024 earnings at $1.98 EPS, FY2024 earnings at $7.31 EPS, Q1 2025 earnings at $1.84 EPS, Q2 2025 earnings at $1.96 EPS and FY2025 earnings at $7.88 EPS.
Other equities analysts also recently issued research reports about the company. StockNews.com initiated coverage on Novartis in a research report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. HSBC initiated coverage on Novartis in a research report on Friday, July 14th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $82.25.
Novartis Stock Performance
NYSE NVS opened at $97.89 on Wednesday. The company has a market cap of $207.49 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.60 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 1.05. The business’s 50 day moving average price is $101.46 and its 200-day moving average price is $97.34. Novartis has a fifty-two week low of $74.09 and a fifty-two week high of $105.61.
Novartis (NYSE:NVS – Get Free Report) last released its earnings results on Wednesday, July 19th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.15. The firm had revenue of $13.62 billion for the quarter, compared to the consensus estimate of $6.32 million. Novartis had a return on equity of 25.12% and a net margin of 14.76%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.
Hedge Funds Weigh In On Novartis
A number of hedge funds and other institutional investors have recently made changes to their positions in NVS. BlackRock Inc. grew its position in shares of Novartis by 18.3% during the 1st quarter. BlackRock Inc. now owns 1,556,539 shares of the company’s stock worth $136,587,000 after buying an additional 240,710 shares in the last quarter. Dakota Wealth Management grew its position in shares of Novartis by 3.9% during the 1st quarter. Dakota Wealth Management now owns 4,869 shares of the company’s stock worth $427,000 after buying an additional 185 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Novartis by 42.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,996 shares of the company’s stock worth $965,000 after buying an additional 3,272 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Novartis by 4.5% during the 1st quarter. Baird Financial Group Inc. now owns 95,477 shares of the company’s stock worth $8,379,000 after buying an additional 4,122 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of Novartis by 22.8% during the 1st quarter. Zions Bancorporation N.A. now owns 3,528 shares of the company’s stock worth $309,000 after purchasing an additional 655 shares during the last quarter. Institutional investors own 7.00% of the company’s stock.
About Novartis
Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.
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