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Novartis AG - Stock Quote NOVN

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Morningstar's Novartis AG Stock Analysis

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Novartis’ Q1 Slightly Below Our Expectations, but Outlook Is Steady and Shares Appear Fairly Valued

Damien Conover, CFA Sector Director

Analyst Note

| Damien Conover, CFA |

Novartis reported first-quarter results slightly below our projections, but we don’t expect any major change to our fair value estimate. We continue to view the stock as fairly valued, with the late-stage pipeline and currently marketed portfolio offsetting patent losses over the next several years. We project close to 2% annual sales growth over the next five years with some margin improvement driving faster earnings growth. This solid midterm outlook combined with a strong early and mid-stage pipeline help reinforce the firm’s wide moat rating.

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Novartis AG's Company Profile

Business Description

Novartis AG develops and manufactures healthcare products through two segments: Innovative Medicines and Sandoz. It generates the vast majority of its revenue from Innovative Medicines segment consisting global business franchises in oncology, ophthalmology, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The firm sells its products globally, with the United States representing close to one third of total revenue.

Lichtstrasse 35
Basel, 4056, Switzerland
T +41 613241111
Sector Healthcare
Industry Drug Manufacturers - General
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 104,323