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Novartis (NVS) Gains But Lags Market: What You Should Know
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Novartis (NVS - Free Report) closed at $97.16 in the latest trading session, marking a +0.63% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the drugmaker had lost 3.45% over the past month. This has lagged the Medical sector's loss of 1.19% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Novartis as it approaches its next earnings report date. This is expected to be July 18, 2023. On that day, Novartis is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 7.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.2 billion, up 3.31% from the year-ago period.
NVS's full-year Zacks Consensus Estimates are calling for earnings of $6.72 per share and revenue of $53.27 billion. These results would represent year-over-year changes of +10.16% and +5.39%, respectively.
Investors should also note any recent changes to analyst estimates for Novartis. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Novartis is currently a Zacks Rank #3 (Hold).
Digging into valuation, Novartis currently has a Forward P/E ratio of 14.36. Its industry sports an average Forward P/E of 14.36, so we one might conclude that Novartis is trading at a no noticeable deviation comparatively.
We can also see that NVS currently has a PEG ratio of 1.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NVS's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Novartis (NVS) Gains But Lags Market: What You Should Know
Novartis (NVS - Free Report) closed at $97.16 in the latest trading session, marking a +0.63% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the drugmaker had lost 3.45% over the past month. This has lagged the Medical sector's loss of 1.19% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Novartis as it approaches its next earnings report date. This is expected to be July 18, 2023. On that day, Novartis is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 7.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.2 billion, up 3.31% from the year-ago period.
NVS's full-year Zacks Consensus Estimates are calling for earnings of $6.72 per share and revenue of $53.27 billion. These results would represent year-over-year changes of +10.16% and +5.39%, respectively.
Investors should also note any recent changes to analyst estimates for Novartis. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Novartis is currently a Zacks Rank #3 (Hold).
Digging into valuation, Novartis currently has a Forward P/E ratio of 14.36. Its industry sports an average Forward P/E of 14.36, so we one might conclude that Novartis is trading at a no noticeable deviation comparatively.
We can also see that NVS currently has a PEG ratio of 1.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NVS's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.