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

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday, February 12th. They set an “underweight” rating for the company. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group reissued a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and an average target price of $123.38.

Institutional Investors Weigh In On Novartis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Continuum Advisory LLC boosted its holdings in shares of Novartis by 10.3% in the fourth quarter. Continuum Advisory LLC now owns 1,021 shares of the company’s stock valued at $99,000 after purchasing an additional 95 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after acquiring an additional 100 shares during the period. Rothschild Investment LLC grew its holdings in Novartis by 0.6% during the 4th quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after acquiring an additional 101 shares in the last quarter. Meridian Wealth Management LLC increased its position in Novartis by 2.6% during the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock valued at $405,000 after purchasing an additional 106 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in shares of Novartis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company’s stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 1.1 %

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

Novartis (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Novartis will post 8.45 earnings per share for the current fiscal year.

Novartis Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s dividend payout ratio (DPR) is 42.69%.

Novartis Company Profile

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.