Novartis FY2027 Earnings Forecast Cut by Erste Group Bank

Novartis AG (NYSE:NVS) – Erste Group Bank reduced their FY2027 earnings per share estimates for shares of Novartis in a note issued to investors on Thursday, October 8th. Erste Group Bank analyst H. Engel now anticipates that the company will earn $9.80 per share for the year, down from their prior estimate of $9.81. The consensus estimate for Novartis’ current full-year earnings is $8.91 per share.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The firm had revenue of $14.95 billion for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.

A number of other analysts have also commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $156.00 price objective on shares of Novartis in a research note on Tuesday, October 6th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis in a research note on Sunday, August 9th. HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and boosted their target price for the company from $123.00 to $136.00 in a research note on Thursday, September 10th. Berenberg Bank decreased their price target on shares of Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. Finally, UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, September 17th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $145.60.

Novartis Stock Performance

NYSE NVS opened at $142.43 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. Novartis has a fifty-two week low of $121.57 and a fifty-two week high of $170.46. The business has a fifty day moving average of $148.69 and a 200-day moving average of $150.47. The stock has a market cap of $271.78 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.41.

Hedge Funds Weigh In On Novartis

Several institutional investors have recently added to or reduced their stakes in NVS. First Citizens Bank & Trust Co. lifted its position in Novartis by 3.6% during the third quarter. First Citizens Bank & Trust Co. now owns 5,706 shares of the company’s stock worth $814,000 after buying an additional 199 shares during the period. JM2 Capital Inc. increased its stake in shares of Novartis by 7.3% during the 3rd quarter. JM2 Capital Inc. now owns 2,548 shares of the company’s stock valued at $363,000 after acquiring an additional 174 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Novartis by 9.4% during the 3rd quarter. Salem Investment Counselors Inc. now owns 77,768 shares of the company’s stock worth $11,087,000 after acquiring an additional 6,666 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Novartis by 10.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,376 shares of the company’s stock worth $766,000 after acquiring an additional 490 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Novartis by 8.9% during the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 2,248 shares of the company’s stock worth $320,000 after acquiring an additional 183 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities center on cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto, Leqvio and Jakavi, as well as other therapies for serious and chronic conditions.

Novartis serves patients and healthcare providers in markets worldwide, with operations spanning North America, Europe, Asia and other international regions.