Zacks Research Has Positive View of Novartis FY2024 Earnings

Novartis AG (NYSE:NVS - Free Report) - Analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Novartis in a research note issued to investors on Thursday, December 12th. Zacks Research analyst E. Bagri now expects that the company will post earnings per share of $7.60 for the year, up from their prior forecast of $7.59. The consensus estimate for Novartis' current full-year earnings is $7.65 per share. Zacks Research also issued estimates for Novartis' Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.10 EPS and Q1 2026 earnings at $2.09 EPS.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to analysts' expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the company posted $1.74 EPS.

A number of other equities research analysts also recently weighed in on NVS. Jefferies Financial Group downgraded Novartis from a "buy" rating to a "hold" rating in a research report on Tuesday, September 3rd. HSBC cut Novartis from a "hold" rating to a "reduce" rating in a research report on Wednesday, December 4th. Erste Group Bank reiterated a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. Bank of America lowered Novartis from a "buy" rating to a "neutral" rating and decreased their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $121.50.

Novartis Stock Performance

Novartis stock traded down $0.59 on Monday, reaching $97.77. 1,255,093 shares of the stock were exchanged, compared to its average volume of 1,326,907. The firm has a fifty day moving average price of $107.95 and a two-hundred day moving average price of $110.28. Novartis has a twelve month low of $92.35 and a twelve month high of $120.92. The stock has a market cap of $199.84 billion, a PE ratio of 11.42, a PEG ratio of 1.49 and a beta of 0.56. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Raymond James & Associates raised its holdings in Novartis by 1.3% during the second quarter. Raymond James & Associates now owns 536,607 shares of the company's stock worth $57,127,000 after acquiring an additional 6,767 shares in the last quarter. Integral Health Asset Management LLC raised its stake in shares of Novartis by 33.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company's stock worth $31,938,000 after purchasing an additional 75,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Novartis by 115.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company's stock valued at $26,797,000 after buying an additional 124,111 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Novartis by 343.5% in the second quarter. Bank of Montreal Can now owns 657,903 shares of the company's stock valued at $70,652,000 after buying an additional 509,567 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in Novartis by 135.5% during the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company's stock worth $4,598,000 after buying an additional 22,998 shares during the last quarter. 13.12% of the stock is currently 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.