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

Novartis AG (NYSE:NVS) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 5,040,000 shares, an increase of 26.3% from the February 13th total of 3,990,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the short-interest ratio is currently 2.8 days. Approximately 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Novartis

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

Novartis Stock Up 0.0 %

Novartis stock traded up $0.01 during trading on Tuesday, reaching $112.23. 3,957,916 shares of the company’s stock were exchanged, compared to its average volume of 1,436,011. The company’s 50-day moving average is $105.65 and its two-hundred day moving average is $107.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a market cap of $229.39 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.70 and a beta of 0.53.

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

Novartis Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 12th. Shareholders 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 payout ratio is currently 42.69%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley assumed coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating for the company. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Three equities 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.