Jefferies Group Brokers Lower Earnings Estimates for Novartis AG (NYSE:NVS)

Novartis AG (NYSE:NVS) – Jefferies Group lowered their FY2017 earnings estimates for shares of Novartis AG in a note issued to investors on Thursday. Jefferies Group analyst J. Holford now anticipates that the company will post earnings per share of $4.70 for the year, down from their previous estimate of $4.74. Jefferies Group also issued estimates for Novartis AG’s FY2018 earnings at $5.24 EPS, FY2019 earnings at $6.01 EPS, FY2020 earnings at $6.81 EPS and FY2021 earnings at $7.79 EPS.

Other equities research analysts also recently issued reports about the company. TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Vetr downgraded Novartis AG from a “strong-buy” rating to a “buy” rating and set a $78.32 target price on the stock. in a research report on Thursday, April 6th. Barclays PLC upgraded Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Finally, Cowen and Company downgraded Novartis AG from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $87.00 to $77.00 in a research report on Wednesday, April 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Novartis AG currently has a consensus rating of “Hold” and a consensus target price of $82.99.

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Shares of Novartis AG (NYSE:NVS) opened at 82.32 on Monday. The company has a market capitalization of $194.74 billion, a price-to-earnings ratio of 30.95 and a beta of 0.73. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The stock has a 50 day moving average price of $81.82 and a 200-day moving average price of $76.18.

Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.59 billion. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. Novartis AG’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $1.17 EPS.

In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. boosted its position in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares in the last quarter. TCI Wealth Advisors Inc. boosted its position in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares in the last quarter. Archford Capital Strategies LLC boosted its position in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC boosted its position in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock worth $113,000 after buying an additional 511 shares in the last quarter. 11.29% of the stock is currently owned by hedge funds and other institutional investors.

Novartis AG Company Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

Earnings History and Estimates for Novartis AG (NYSE:NVS)

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