Novartis AG (NYSE:NVS) – Jefferies Financial Group cut their Q4 2019 EPS estimates for shares of Novartis in a research report issued on Thursday, May 16th. Jefferies Financial Group analyst P. Welford now forecasts that the company will post earnings of $1.26 per share for the quarter, down from their previous estimate of $1.28.
NVS has been the subject of a number of other reports. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a report on Wednesday, April 24th. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, Zacks Investment Research downgraded Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $87.57.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10. The business had revenue of $11.11 billion during the quarter, compared to analyst estimates of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share.
Several hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA grew its holdings in Novartis by 4.2% in the 1st quarter. Primecap Management Co. CA now owns 23,857,216 shares of the company’s stock valued at $2,293,633,000 after buying an additional 969,985 shares in the last quarter. BlackRock Inc. lifted its position in shares of Novartis by 223.5% during the 4th quarter. BlackRock Inc. now owns 11,439,298 shares of the company’s stock valued at $981,607,000 after acquiring an additional 7,902,964 shares during the period. Bank of America Corp DE lifted its position in shares of Novartis by 25.1% during the 4th quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock valued at $776,909,000 after acquiring an additional 1,817,005 shares during the period. FMR LLC lifted its position in shares of Novartis by 23.7% during the 1st quarter. FMR LLC now owns 8,678,552 shares of the company’s stock valued at $834,356,000 after acquiring an additional 1,662,505 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Novartis by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 7,609,632 shares of the company’s stock valued at $652,983,000 after acquiring an additional 184,555 shares during the period. 11.66% of the stock is currently owned by institutional investors and hedge funds.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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