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

Novartis AG (NYSE:NVS - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 5,040,000 shares, a growth of 26.3% from the February 13th total of 3,990,000 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 2.8 days.

Novartis Trading Down 1.0 %

NVS traded down $1.10 on Friday, hitting $112.11. The company had a trading volume of 3,595,371 shares, compared to its average volume of 1,468,861. The company's fifty day moving average price is $106.41 and its 200 day moving average price is $107.55. Novartis has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $229.15 billion, a P/E ratio of 19.07, a PEG ratio of 1.70 and a beta of 0.53.

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

Novartis Dividend Announcement

The company also recently declared 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%.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HSBC cut Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley began coverage on Novartis in a report on Wednesday, February 12th. They set an "underweight" rating on the stock. StockNews.com raised shares of Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $123.38.

Institutional Investors Weigh In On Novartis

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

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.