In the latest market close, Novartis (NVS - Free Report) reached $108.47, with a +0.22% movement compared to the previous day. This move traded in line with S&P 500. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the drugmaker had gained 9.6% in the past month. In that same time, the Medical sector gained 2.3%, while the S&P 500 gained 1.61%.
The investment community will be paying close attention to the earnings performance of Novartis in its upcoming release. The company is slated to reveal its earnings on January 31, 2024. It is anticipated that the company will report an EPS of $1.66, marking a 9.93% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.67 billion, down 8.02% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Novartis. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.44% increase. Novartis is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Novartis is presently trading at a Forward P/E ratio of 14.94. This represents a premium compared to its industry's average Forward P/E of 14.72.
One should further note that NVS currently holds a PEG ratio of 1.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.82 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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In the latest market close, Novartis (NVS - Free Report) reached $108.47, with a +0.22% movement compared to the previous day. This move traded in line with S&P 500. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the drugmaker had gained 9.6% in the past month. In that same time, the Medical sector gained 2.3%, while the S&P 500 gained 1.61%.
The investment community will be paying close attention to the earnings performance of Novartis in its upcoming release. The company is slated to reveal its earnings on January 31, 2024. It is anticipated that the company will report an EPS of $1.66, marking a 9.93% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.67 billion, down 8.02% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Novartis. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.44% increase. Novartis is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Novartis is presently trading at a Forward P/E ratio of 14.94. This represents a premium compared to its industry's average Forward P/E of 14.72.
One should further note that NVS currently holds a PEG ratio of 1.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.82 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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