Novartis Eyes Key Level As Earnings Top

Novartis stock fell slightly on Wednesday after the pharmaceutical company reported adjusted earnings of $1.66 per share on $12.96 billion in sales for its second quarter.


On average, analysts polled by FactSet expected Novartis (NVS) to earn $1.56 per share on $12.56 billion in sales. In the year-earlier period, Novartis earned $1.36 a share and reported $11.35 billion in sales.

For the year, the pharmaceutical company still sees mid-single-digit operating profit growth, with sales up in the low- to mid-single digits. Analysts called for adjusted Novartis earnings of $6.31 per share and $5.84 billion in sales.

In morning trading on the stock market today, Novartis stock fell 1.1% near 89.20, below its 50-day line. Shares are forming a cup-with-handle base and a buy point at 94.87, according to

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.


IBD Stock Of The Day Elanco Flashes Possible Buy Signal As Pet Trends Bolster Shares

Drug Stocks Pop On Reports Of $26 Billion Settlement In Opioid Fight

See IBD Stock Lists & Get Pass/Fail Ratings For All Your Stocks With IBD Digital

Want More IBD Insights? Subscribe To Our Investing Podcast!

Learn How To Time The Market With IBD’s ETF Market Strategy

Most Related Links :
todayprimenews Governmental News Finance News

Source link

Back to top button