Brokers Set Expectations for Novartis AG’s FY2024 Earnings (NYSE:NVS)

Novartis AG (NYSE:NVS) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for Novartis in a research report issued to clients and 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 previous forecast 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.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the company posted $1.83 earnings per share.

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

Novartis Trading Up 0.7 %

Shares of Novartis stock opened at $119.37 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $112.25 and a two-hundred day moving average of $104.31. Novartis has a 12-month low of $92.19 and a 12-month high of $120.92. The stock has a market cap of $243.99 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.77 and a beta of 0.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NVS. Russell Investments Group Ltd. boosted its holdings in shares of Novartis by 36.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,488 shares of the company’s stock valued at $352,000 after buying an additional 933 shares during the period. Aveo Capital Partners LLC boosted its stake in Novartis by 12.3% during the 4th quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock valued at $253,000 after purchasing an additional 275 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Novartis by 6.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,408 shares of the company’s stock valued at $647,000 after purchasing an additional 377 shares during the period. Merit Financial Group LLC acquired a new position in Novartis during the 4th quarter valued at about $203,000. Finally, Axxcess Wealth Management LLC boosted its stake in Novartis by 22.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,792 shares of the company’s stock valued at $282,000 after purchasing an additional 512 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

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.