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

Novartis AG (NYSE:NVS - Get Free Report) was the target of a large decrease in short interest in 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 shares of the company are short sold. Based on an average daily trading volume, of 2,050,000 shares, the days-to-cover ratio is presently 2.0 days.

Novartis Price Performance

Shares of NVS traded down $5.46 during trading hours on Friday, hitting $106.81. 2,335,436 shares of the company were exchanged, compared to its average volume of 1,517,316. 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 company has a market capitalization of $218.31 billion, a PE ratio of 18.17, a PEG ratio of 1.70 and a beta of 0.56. The firm has a fifty day simple moving average of $108.90 and a 200-day simple moving average of $107.12. Novartis has a one year low of $92.35 and a one year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Novartis will post 8.45 earnings per share for the current year.

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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 issued a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis's payout ratio is 42.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVS. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Barclays reissued an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They issued an "underweight" rating on the stock. Finally, StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Three 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. According to data from MarketBeat.com, Novartis presently has a consensus rating of "Hold" and a consensus price target of $123.38.

Institutional Investors Weigh In On Novartis

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

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.