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

by · The Markets Daily

Novartis (NYSE:NVS – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12, Yahoo Finance reports. The firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period in the previous year, the firm earned $1.74 EPS.

Novartis Stock Performance

Shares of NVS opened at $109.89 on Thursday. The company’s 50 day simple moving average is $116.13 and its 200-day simple moving average is $109.02. The firm has a market cap of $224.62 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.57. Novartis has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVS shares. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Finally, BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.50.

View Our Latest Analysis on NVS

About Novartis

(Get Free Report)

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.

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