Novartis (NYSE:NVS) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Novartis (NYSE:NVS) announced its quarterly earnings results on Thursday. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10, Yahoo Finance reports. The company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Novartis had a return on equity of 34.63% and a net margin of 33.76%. During the same period in the previous year, the business earned $1.83 earnings per share.

Novartis Stock Down 1.0 %

NVS stock opened at $106.13 on Friday. Novartis has a fifty-two week low of $92.19 and a fifty-two week high of $112.48. The business’s 50 day moving average price is $105.36 and its two-hundred day moving average price is $102.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. The company has a market capitalization of $216.93 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Jefferies Financial Group boosted their target price on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. BMO Capital Markets boosted their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group began coverage on Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.13.

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.