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

Novartis (NYSE:NVS) issued its quarterly earnings results on Tuesday. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period last year, the company posted $1.74 EPS.

Novartis Stock Performance

Novartis stock opened at $109.89 on Thursday. The firm has a 50 day simple moving average of $116.13 and a 200-day simple moving average of $109.02. The stock has a market cap of $224.62 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. Novartis has a 1-year low of $92.35 and a 1-year high of $120.92.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novartis has an average rating of “Hold” and a consensus price target 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.