Novartis (NYSE:NVS) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Novartis (NYSE:NVS) posted its quarterly earnings data on Thursday. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14, Briefing.com reports. Novartis had a net margin of 23.27% and a return on equity of 17.43%. The company had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company posted $1.29 earnings per share. Novartis’s revenue for the quarter was up 3.7% compared to the same quarter last year.

Novartis stock opened at $93.56 on Friday. Novartis has a 1-year low of $71.33 and a 1-year high of $95.00. The company has a market capitalization of $214.65 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. The firm has a fifty day simple moving average of $90.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.83.

Several institutional investors have recently added to or reduced their stakes in the business. Winslow Evans & Crocker Inc. lifted its stake in shares of Novartis by 11.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after buying an additional 114 shares in the last quarter. Old Port Advisors lifted its position in shares of Novartis by 4.5% during the second quarter. Old Port Advisors now owns 2,722 shares of the company’s stock valued at $252,000 after purchasing an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Novartis by 1.2% during the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock valued at $1,022,000 after purchasing an additional 125 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Novartis by 7.5% during the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock valued at $177,000 after purchasing an additional 128 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its position in shares of Novartis by 5.7% during the first quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock valued at $235,000 after purchasing an additional 131 shares in the last quarter. 11.88% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on NVS shares. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday. Morgan Stanley set a $165.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the stock a “neutral” rating in a report on Friday, July 5th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus target price of $88.24.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Earnings History for Novartis (NYSE:NVS)

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