Short Interest in Novartis AG (NYSE:NVS) Drops By 20.2%

Novartis AG (NYSE:NVS) was the recipient of a significant 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. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 2,050,000 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Novartis

Several hedge funds have recently made changes to their positions in the stock. Human Investing LLC bought a new stake in shares of Novartis during the fourth quarter valued at about $25,000. Raiffeisen Bank International AG purchased a new position in shares of Novartis during the 4th quarter valued at $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis in the fourth quarter worth $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis in the third quarter worth $28,000. Finally, Park Square Financial Group LLC purchased a new position in Novartis during the fourth quarter worth about $30,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Trading Up 1.2 %

Shares of Novartis stock opened at $112.69 on Monday. The stock has a fifty day moving average price of $107.92 and a 200-day moving average price of $107.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market cap of $230.34 billion, a PE ratio of 19.17, a P/E/G ratio of 1.70 and a beta of 0.53. Novartis has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last announced 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%. Equities research analysts anticipate that Novartis will post 8.45 EPS for the current year.

Novartis Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVS shares. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, Morgan Stanley started coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.38.

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.