Novartis Q3 Profit and Revenue Miss the Mark (NVS)

By Staff,

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Drug maker Novartis AG ( NVS ) on Thursday posted disappointing third quarter earnings results.

The Swiss company reported third quarter net income of $2.48 billion, or $1.01 per share, compared with $2.49 billion, or $1.02 per share, in the year-ago period. Excluding items, adjusted profit was $1.34 per share.

Revenue fell 7% from last year to $13.81 billion.

On average, Wall Street analysts expected a higher profit of $1.36 per share, on much larger revenue of $14.25 billion.

Novartis shares fell 47 cents, or 0.8%, in Thursday morning trading.

The Bottom Line
Shares of Novartis ( NVS ) have a 4.01% dividend yield, based on last night's closing stock price of $61.39. The stock has technical support in the $56-$58 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $64-$65 a share.

Novartis AG ( NVS ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: NVS

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