Novartis AG (NYSE:NVS) – Equities researchers at Jefferies Financial Group dropped their FY2020 EPS estimates for Novartis in a research note issued on Tuesday, October 15th. Jefferies Financial Group analyst P. Welford now forecasts that the company will earn $5.71 per share for the year, down from their previous estimate of $5.77. Jefferies Financial Group currently has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for Novartis’ FY2021 earnings at $6.44 EPS, FY2022 earnings at $7.06 EPS and FY2023 earnings at $7.44 EPS.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS.
NVS opened at $86.88 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74. The stock has a market capitalization of $199.91 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.96 and a beta of 0.59. The business has a 50-day moving average of $87.35 and a two-hundred day moving average of $87.62. Novartis has a 12 month low of $72.19 and a 12 month high of $95.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVS. Asset Dedication LLC lifted its stake in shares of Novartis by 98.7% in the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Novartis by 795.8% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock valued at $27,000 after purchasing an additional 2,443 shares in the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Novartis in the 2nd quarter valued at about $37,000. Anderson Fisher LLC acquired a new position in shares of Novartis in the 2nd quarter valued at about $39,000. Finally, Manchester Financial Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at about $45,000. 11.18% of the stock is currently owned by institutional investors and hedge funds.
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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