Novartis (NYSE:NVS) Issues Earnings Results, Beats Estimates By $0.12 EPS

Novartis (NYSE:NVS - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12, Yahoo Finance reports. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period in the previous year, the company earned $1.74 earnings per share.

Novartis Stock Performance

Shares of NVS traded down $0.64 during trading hours on Wednesday, reaching $109.89. 2,845,631 shares of the company traded hands, compared to its average volume of 1,349,550. The stock has a market capitalization of $224.62 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.65 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. Novartis has a 12-month low of $92.35 and a 12-month high of $120.92. The business has a fifty day moving average price of $116.13 and a 200-day moving average price of $109.02.

Analysts Set New Price Targets

NVS has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a report on Wednesday. Jefferies Financial Group lowered shares of Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a "buy" rating to a "neutral" rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Novartis in a report on Friday, July 19th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $121.50.

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.