FY2024 EPS Estimates for Novartis AG Lifted by Analyst (NYSE:NVS)

Novartis AG (NYSE:NVS) – Research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Novartis in a note issued to investors on Monday, September 2nd. Zacks Research analyst E. Bagri now anticipates that the company will earn $7.51 per share for the year, up from their prior estimate of $7.50. The consensus estimate for Novartis’ current full-year earnings is $7.48 per share. Zacks Research also issued estimates for Novartis’ Q4 2024 earnings at $1.86 EPS, Q1 2025 earnings at $1.92 EPS, Q3 2025 earnings at $2.19 EPS, Q4 2025 earnings at $2.07 EPS, FY2025 earnings at $8.24 EPS, Q2 2026 earnings at $2.24 EPS and FY2026 earnings at $8.98 EPS.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. The Goldman Sachs Group assumed coverage on shares of Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays upgraded shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $118.13.

Novartis Stock Up 0.7 %

NYSE NVS opened at $119.37 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The company’s 50 day simple moving average is $112.25 and its 200 day simple moving average is $104.31. Novartis has a 12 month low of $92.19 and a 12 month high of $120.92. The company has a market capitalization of $243.99 billion, a P/E ratio of 16.11, a PEG ratio of 1.77 and a beta of 0.57.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the previous year, the firm earned $1.83 EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its stake in Novartis by 1.3% in the 2nd quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after buying an additional 6,767 shares during the period. Manning & Napier Advisors LLC bought a new stake in Novartis in the second quarter worth approximately $15,044,000. O Shaughnessy Asset Management LLC grew its position in Novartis by 6.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock worth $17,485,000 after acquiring an additional 11,080 shares in the last quarter. TD Asset Management Inc grew its position in Novartis by 314.8% in the fourth quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock worth $5,563,000 after acquiring an additional 41,815 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in Novartis in the first quarter worth approximately $2,968,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Company Profile

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.