Today: The Jefferies Group Research Analysts Cut Earnings Estimates for Novartis AG (NVS)

The Jefferies Group Research Analysts Cut Earnings Estimates for Novartis AG (NVS)

Novartis AG (NYSE:NVS) – Investment analysts at Jefferies Group dropped their FY2016 earnings estimates for shares of Novartis AG in a report released on Thursday. Jefferies Group analyst J. Holford now anticipates that the firm will earn $4.87 per share for the year, down from their prior forecast of $4.89. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Novartis AG’s FY2017 earnings at $5.16 EPS, FY2018 earnings at $5.90 EPS, FY2019 earnings at $6.61 EPS and FY2020 earnings at $7.42 EPS.

NVS has been the topic of several other reports. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Monday, July 11th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Societe Generale reiterated a “hold” rating on shares of Novartis AG in a research report on Thursday. Chardan Capital lowered their price target on Novartis AG from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, October 10th. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $89.20.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Novartis AG had a return on equity of 15.25% and a net margin of 13.98%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year.

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Hedge funds have recently modified their holdings of the company. Integrated Investment Consultants LLC boosted its stake in shares of Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares during the period. Whitnell & Co. boosted its stake in shares of Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares during the period. Iowa State Bank acquired a new stake in shares of Novartis AG during the second quarter valued at approximately $122,000. M&R Capital Management Inc. acquired a new stake in shares of Novartis AG during the second quarter valued at approximately $122,000. Finally, WFG Advisors LP boosted its stake in shares of Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares during the period. 9.77% of the stock is owned by institutional investors and hedge funds.

Novartis AG Company Profile

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