Novartis AG to Post Q3 2024 Earnings of $1.88 Per Share, Zacks Research Forecasts (NYSE:NVS)

Novartis AG (NYSE:NVS) – Equities research analysts at Zacks Research lifted their Q3 2024 earnings per share estimates for Novartis in a research note issued to investors on Thursday, August 1st. Zacks Research analyst E. Bagri now forecasts that the company will post earnings of $1.88 per share for the quarter, up from their previous estimate of $1.84. The consensus estimate for Novartis’ current full-year earnings is $7.41 per share. Zacks Research also issued estimates for Novartis’ Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.50 EPS, Q1 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.17 EPS, FY2025 earnings at $8.19 EPS, Q2 2026 earnings at $2.22 EPS and FY2026 earnings at $8.86 EPS.

Several other research firms also recently commented on NVS. BMO Capital Markets lifted their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group assumed coverage on Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $118.13.

Novartis Trading Up 0.7 %

Shares of NYSE NVS opened at $112.87 on Friday. The company has a market cap of $230.71 billion, a PE ratio of 15.23, a P/E/G ratio of 1.65 and a beta of 0.57. Novartis has a 52-week low of $92.19 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The firm’s 50 day moving average price is $106.99 and its 200-day moving average price is $102.47.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period last year, the business earned $1.83 earnings per share.

Institutional Investors Weigh In On Novartis

Institutional investors and hedge funds have recently bought and sold shares of the business. AdvisorNet Financial Inc lifted its holdings in shares of Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in shares of Novartis by 14.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,263 shares of the company’s stock worth $531,000 after acquiring an additional 676 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Novartis by 708.5% in the fourth quarter. Independence Bank of Kentucky now owns 1,617 shares of the company’s stock valued at $163,000 after purchasing an additional 1,417 shares in the last quarter. Ballentine Partners LLC raised its stake in Novartis by 20.8% during the fourth quarter. Ballentine Partners LLC now owns 13,592 shares of the company’s stock valued at $1,372,000 after purchasing an additional 2,339 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Novartis by 10.0% during the fourth quarter. Private Trust Co. NA now owns 5,092 shares of the company’s stock valued at $514,000 after purchasing an additional 465 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

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.