Novartis (NYSE:NVS) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

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

Novartis Trading Down 1.0 %

Shares of NVS stock opened at $106.13 on Friday. The stock has a market cap of $216.93 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.63 and a beta of 0.57. The stock has a 50-day moving average of $105.36 and a 200-day moving average of $102.21. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. Novartis has a 1-year low of $92.19 and a 1-year high of $112.48.

Wall Street Analysts Forecast Growth

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

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.