FY2024 EPS Estimates for Novartis Lifted by Zacks Research

Novartis AG (NYSE:NVS) – Zacks Research boosted their FY2024 earnings estimates for shares of Novartis in a report issued on Tuesday, November 12th. Zacks Research analyst E. Bagri now expects that the company will post earnings per share of $7.59 for the year, up from their previous estimate of $7.51. The consensus estimate for Novartis’ current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Novartis’ Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $2.08 EPS, Q1 2026 earnings at $2.06 EPS and FY2026 earnings at $8.89 EPS.

A number of other equities research analysts have also issued reports on NVS. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. BMO Capital Markets raised their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $121.50.

Novartis Stock Down 0.3 %

NVS stock opened at $103.06 on Thursday. Novartis has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a 50 day simple moving average of $113.41 and a 200 day simple moving average of $109.79. The firm has a market cap of $210.65 billion, a PE ratio of 11.93, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the business earned $1.74 EPS.

Hedge Funds Weigh In On Novartis

A number of hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC grew its stake in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in Novartis in the third quarter worth approximately $28,000. Lynx Investment Advisory bought a new position in Novartis during the second quarter valued at approximately $29,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Novartis in the second quarter valued at approximately $30,000. 13.12% of the stock is owned by institutional investors and hedge funds.

About Novartis

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.