Novartis (NYSE:NVS) Announces Earnings Results, Beats Expectations By $0.14 EPS
Novartis (NYSE:NVS) issued its quarterly earnings results on Thursday. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14, Briefing.com reports. The business had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.45 billion. Novartis had a return on equity of 17.43% and a net margin of 23.27%. Novartis’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share.
Shares of NVS opened at $93.56 on Friday. The company has a market capitalization of $216.26 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.22 and a beta of 0.59. The company has a fifty day moving average price of $90.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.83 and a current ratio of 0.93. Novartis has a 1 year low of $71.33 and a 1 year high of $95.00.
Several institutional investors and hedge funds have recently modified their holdings of the business. Winslow Evans & Crocker Inc. raised its stake in shares of Novartis by 11.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after buying an additional 114 shares during the period. Old Port Advisors raised its stake in shares of Novartis by 4.5% during the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock valued at $252,000 after purchasing an additional 116 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Novartis by 1.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock valued at $1,022,000 after purchasing an additional 125 shares during the period. Legacy Bridge LLC raised its stake in shares of Novartis by 7.5% during the 1st quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock valued at $177,000 after purchasing an additional 128 shares during the period. Finally, Archford Capital Strategies LLC raised its stake in shares of Novartis by 5.7% during the 1st quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock valued at $235,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 11.88% of the company’s stock.
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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