Novartis (NYSE:NVS) Announces Earnings Results, Beats Estimates By $0.14 EPS

Novartis (NYSE:NVS) posted its quarterly earnings data on Tuesday. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.14, MarketWatch Earnings reports. The firm had revenue of $12.96 billion during the quarter, compared to the consensus estimate of $12.41 billion. Novartis had a net margin of 16.31% and a return on equity of 24.15%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS.

Shares of Novartis stock traded up $0.74 on Thursday, reaching $91.22. 118,087 shares of the stock were exchanged, compared to its average volume of 1,509,714. The firm’s 50 day simple moving average is $90.96. Novartis has a one year low of $77.04 and a one year high of $98.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.74. The stock has a market cap of $208.78 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.15 and a beta of 0.55.

A number of analysts have issued reports on NVS shares. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a report on Wednesday, April 28th. Oddo Bhf raised shares of Novartis from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group reissued a “buy” rating on shares of Novartis in a report on Monday, April 19th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Novartis in a report on Tuesday, May 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Novartis presently has a consensus rating of “Hold” and an average target price of $108.50.

A hedge fund recently raised its stake in Novartis stock. OLD Mission Capital LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 85.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,985 shares of the company’s stock after acquiring an additional 169,219 shares during the period. Novartis makes up about 2.0% of OLD Mission Capital LLC’s portfolio, making the stock its 5th largest holding. OLD Mission Capital LLC’s holdings in Novartis were worth $32,000,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.50% 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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Earnings History for Novartis (NYSE:NVS)

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