Novartis AG (NYSE:NVS) Sees Significant Decline in Short Interest

Novartis AG (NYSE:NVS) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,020,000 shares, a decline of 20.2% from the February 28th total of 5,040,000 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 2,050,000 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVS. Morgan Stanley began coverage on shares of Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.38.

Institutional Investors Weigh In On Novartis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Human Investing LLC purchased a new position in shares of Novartis during the 4th quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Novartis in the 4th quarter worth about $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in Novartis in the 3rd quarter worth about $28,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Novartis during the fourth quarter valued at approximately $30,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS traded up $1.20 during trading on Wednesday, hitting $110.81. 2,752,033 shares of the company’s stock traded hands, compared to its average volume of 1,506,850. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The stock has a market capitalization of $226.50 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.70 and a beta of 0.53. Novartis has a 12-month low of $92.35 and a 12-month high of $120.92. The business has a 50 day moving average of $108.40 and a 200-day moving average of $107.06.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, equities research analysts anticipate that Novartis will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were paid a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.