Q1 2019 EPS Estimates for Novartis AG (NVS) Cut by Jefferies Financial Group

Novartis AG (NYSE:NVS) – Equities researchers at Jefferies Financial Group lowered their Q1 2019 earnings per share estimates for shares of Novartis in a research report issued on Wednesday, April 17th, Zacks Investment Research reports. Jefferies Financial Group analyst P. Welford now expects that the company will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.21. Jefferies Financial Group also issued estimates for Novartis’ Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.27 EPS and Q4 2019 earnings at $1.28 EPS.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.11 by $0.10. The business had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS.

NVS has been the subject of a number of other research reports. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research note on Tuesday, January 29th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research note on Wednesday, April 24th. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Novartis currently has an average rating of “Hold” and a consensus price target of $87.57.

NYSE NVS traded up $0.90 during mid-day trading on Thursday, reaching $81.88. 2,036,568 shares of the company’s stock traded hands, compared to its average volume of 2,608,352. Novartis has a 1-year low of $63.60 and a 1-year high of $85.08. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a market cap of $188.70 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.66.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dodge & Cox boosted its position in Novartis by 0.5% during the 3rd quarter. Dodge & Cox now owns 44,361,387 shares of the company’s stock valued at $3,822,177,000 after purchasing an additional 229,525 shares during the period. BlackRock Inc. boosted its position in 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 purchasing an additional 7,902,964 shares during the period. Bank of America Corp DE boosted its position in 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 purchasing an additional 1,817,005 shares during the period. Fisher Asset Management LLC boosted its position in 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 purchasing an additional 184,555 shares during the period. Finally, Boston Partners boosted its position in Novartis by 26.1% during the 4th quarter. Boston Partners now owns 7,046,794 shares of the company’s stock valued at $604,685,000 after purchasing an additional 1,459,845 shares during the period. Institutional investors own 11.72% of the company’s stock.

Novartis Company Profile

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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Earnings History and Estimates for Novartis (NYSE:NVS)

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