Novartis AG (NYSE:NVS) – Jefferies Group boosted their FY2016 earnings per share estimates for Novartis AG in a note issued to investors on Thursday. Jefferies Group analyst J. Holford now expects that the brokerage will earn $4.89 per share for the year, up from their previous estimate 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 released its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The firm earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter last year, the business earned $1.25 EPS.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. Chardan Capital decreased their target price on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, October 10th. TheStreet upgraded shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Finally, Argus reissued a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $91.33.
Shares of Novartis AG (NYSE:NVS) opened at 76.31 on Monday. The company has a market cap of $181.71 billion, a price-to-earnings ratio of 27.24 and a beta of 0.57. Novartis AG has a 12-month low of $69.90 and a 12-month high of $93.58. The stock has a 50 day moving average of $79.12 and a 200 day moving average of $79.12.
Several hedge funds have recently made changes to their positions in NVS. Parnassus Investments CA raised its stake in shares of Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock valued at $287,291,000 after buying an additional 1,323,724 shares during the period. Thomaspartners Inc. raised its stake in shares of Novartis AG by 76.6% in the second quarter. Thomaspartners Inc. now owns 2,620,677 shares of the company’s stock valued at $216,232,000 after buying an additional 1,136,338 shares during the period. Aristotle Capital Management LLC raised its stake in shares of Novartis AG by 31.9% in the second quarter. Aristotle Capital Management LLC now owns 2,736,946 shares of the company’s stock valued at $225,825,000 after buying an additional 662,285 shares during the period. FMR LLC raised its stake in shares of Novartis AG by 65.6% in the second quarter. FMR LLC now owns 1,208,384 shares of the company’s stock valued at $99,704,000 after buying an additional 478,679 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Novartis AG during the second quarter valued at $37,505,000. Institutional investors and hedge funds 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.
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