Novartis AG Expected to Post Q2 2024 Earnings of $1.80 Per Share (NYSE:NVS)

Novartis AG (NYSE:NVS) – Analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for Novartis in a research report issued on Tuesday, May 7th. Zacks Research analyst E. Bagri now anticipates that the company will post earnings of $1.80 per share for the quarter, up from their previous estimate of $1.78. The consensus estimate for Novartis’ current full-year earnings is $7.26 per share. Zacks Research also issued estimates for Novartis’ Q4 2024 earnings at $1.78 EPS, FY2024 earnings at $7.21 EPS, Q1 2025 earnings at $1.89 EPS, Q2 2025 earnings at $2.08 EPS, Q4 2025 earnings at $1.97 EPS, FY2025 earnings at $8.06 EPS, Q1 2026 earnings at $1.99 EPS and FY2026 earnings at $8.59 EPS.

Other equities research analysts have also issued reports about the stock. Morgan Stanley began coverage on shares of Novartis in a report on Tuesday, January 23rd. They set an “equal weight” rating and a $114.00 price target for the company. BMO Capital Markets raised their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th.

Novartis Price Performance

Shares of Novartis stock opened at $100.21 on Thursday. The stock has a market capitalization of $204.83 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53. Novartis has a one year low of $92.19 and a one year high of $108.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.71. The business’s 50 day simple moving average is $97.09 and its two-hundred day simple moving average is $99.07.

Novartis Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were paid a $3.7772 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. This represents a dividend yield of 3.1%. Novartis’s dividend payout ratio is 32.79%.

Hedge Funds Weigh In On Novartis

A number of hedge funds have recently made changes to their positions in NVS. Dorsey & Whitney Trust CO LLC boosted its stake in Novartis by 5.6% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 15,127 shares of the company’s stock worth $1,463,000 after purchasing an additional 808 shares during the period. ProVise Management Group LLC lifted its holdings in shares of Novartis by 2.5% in the first quarter. ProVise Management Group LLC now owns 127,390 shares of the company’s stock worth $12,322,000 after buying an additional 3,074 shares in the last quarter. Wilkins Investment Counsel Inc. boosted its position in shares of Novartis by 44.3% during the first quarter. Wilkins Investment Counsel Inc. now owns 187,737 shares of the company’s stock worth $18,160,000 after acquiring an additional 57,627 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Novartis by 6.1% during the first quarter. Kingsview Wealth Management LLC now owns 9,046 shares of the company’s stock worth $875,000 after acquiring an additional 517 shares during the last quarter. Finally, Zevin Asset Management LLC grew its stake in Novartis by 6.4% during the first quarter. Zevin Asset Management LLC now owns 90,738 shares of the company’s stock valued at $8,777,000 after acquiring an additional 5,464 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

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.