Novartis AG (NYSE:NVS) Short Interest Down 20.2% in March

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

Novartis Price Performance

Shares of NYSE NVS opened at $112.69 on Monday. The firm has a 50-day simple moving average of $107.92 and a 200-day simple moving average of $107.13. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $230.34 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Novartis has a 52 week low of $92.35 and a 52 week high of $120.92.

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

Novartis Announces Dividend

The firm also recently disclosed 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 was Wednesday, March 12th. Novartis’s dividend payout ratio is currently 42.69%.

Institutional Investors Weigh In On Novartis

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley assumed coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Finally, HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average target price of $123.38.

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.