Q3 2024 EPS Estimates for Novartis AG (NYSE:NVS) Boosted by Zacks Research

Novartis AG (NYSE:NVS) – Equities researchers at Zacks Research upped their Q3 2024 EPS estimates for Novartis in a research note issued on Thursday, August 1st. Zacks Research analyst E. Bagri now forecasts that the company will earn $1.88 per share for the quarter, up from their previous estimate of $1.84. The consensus estimate for Novartis’ current full-year earnings is $7.41 per share. Zacks Research also issued estimates for Novartis’ Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.50 EPS, Q1 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.17 EPS, FY2025 earnings at $8.19 EPS, Q2 2026 earnings at $2.22 EPS and FY2026 earnings at $8.86 EPS.

A number of other research firms also recently issued reports on NVS. The Goldman Sachs Group assumed coverage on Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target on the stock. BMO Capital Markets upped their target price on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group boosted their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.13.

Novartis Stock Performance

Shares of NVS stock opened at $112.87 on Friday. The firm has a market capitalization of $230.71 billion, a PE ratio of 15.23, a P/E/G ratio of 1.65 and a beta of 0.57. The company has a 50 day moving average price of $106.99 and a 200-day moving average price of $102.47. Novartis has a 52 week low of $92.19 and a 52 week high of $113.00. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter last year, the company earned $1.83 EPS.

Institutional Investors Weigh In On Novartis

Several institutional investors and hedge funds have recently modified their holdings of NVS. National Bank of Canada FI boosted its stake in Novartis by 21.8% during the second quarter. National Bank of Canada FI now owns 178,000 shares of the company’s stock valued at $18,942,000 after buying an additional 31,812 shares during the last quarter. Nottingham Advisors Inc. purchased a new position in shares of Novartis in the second quarter valued at $255,000. Chase Investment Counsel Corp bought a new stake in Novartis in the second quarter worth $6,006,000. Foster & Motley Inc. lifted its position in Novartis by 28.5% during the second quarter. Foster & Motley Inc. now owns 16,138 shares of the company’s stock valued at $1,718,000 after purchasing an additional 3,580 shares during the last quarter. Finally, Pursue Wealth Partners LLC grew its stake in shares of Novartis by 9.8% in the 2nd quarter. Pursue Wealth Partners LLC now owns 3,352 shares of the company’s stock worth $357,000 after buying an additional 300 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.