Jefferies Group Brokers Boost Earnings Estimates for Novartis AG (NVS)
Novartis AG (NYSE:NVS) – Research analysts at Jefferies Group upped their FY2016 earnings per share estimates for Novartis AG in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Holford now anticipates that the brokerage will post earnings per share of $4.89 for the year, up from their previous forecast of $4.87. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Novartis AG’s FY2017 earnings at $5.43 EPS.
Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The company earned $12.47 billion during the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same period in the previous year, the firm posted $1.25 earnings per share.
Several other equities analysts also recently commented on NVS. TheStreet downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Monday, July 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a research note on Monday, October 10th. Bank of America Corp. restated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Finally, Argus restated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Novartis AG currently has an average rating of “Hold” and an average price target of $91.33.
Shares of Novartis AG (NYSE:NVS) opened at 75.58 on Monday. The company’s 50 day moving average is $79.22 and its 200-day moving average is $79.08. The company has a market capitalization of $179.97 billion, a P/E ratio of 26.98 and a beta of 0.57. Novartis AG has a 1-year low of $69.90 and a 1-year high of $93.72.
Large investors have recently bought and sold shares of the stock. Integrated Investment Consultants LLC raised its position in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $102,000 after buying an additional 74 shares during the period. Whitnell & Co. raised its position in shares of Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 180 shares during the period. Iowa State Bank acquired a new position in shares of Novartis AG during the second quarter worth about $122,000. M&R Capital Management Inc. acquired a new position in shares of Novartis AG during the second quarter worth about $122,000. Finally, WFG Advisors LP raised its position in shares of Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 133 shares during the period. Institutional investors own 9.77% of the company’s stock.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
Receive News & Stock Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related stocks with our FREE daily email newsletter.