Novartis (NYSE:NVS) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Novartis (NYSE:NVS) released its quarterly earnings data on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12, Yahoo Finance reports. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the business earned $1.74 earnings per share.

Novartis Stock Down 1.4 %

Shares of NYSE NVS traded down $1.53 during midday trading on Thursday, hitting $108.38. The company’s stock had a trading volume of 1,403,875 shares, compared to its average volume of 1,349,807. The business’s fifty day simple moving average is $116.13 and its two-hundred day simple moving average is $109.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. Novartis has a 1 year low of $92.35 and a 1 year high of $120.92. The firm has a market capitalization of $221.53 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.57.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $121.50.

Novartis Company Profile

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.