Novartis AG (NYSE:NVS) Short Interest Update

Novartis AG (NYSE:NVSGet Rating) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 5,970,000 shares, a decline of 15.7% from the May 15th total of 7,080,000 shares. Based on an average daily trading volume, of 2,440,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.3% of the company’s shares are short sold.

Shares of Novartis stock traded down $0.31 during trading hours on Friday, hitting $81.54. 108,325 shares of the company’s stock traded hands, compared to its average volume of 2,195,396. The stock has a 50 day simple moving average of $88.57 and a 200-day simple moving average of $86.90. The company has a quick ratio of 1.01, a current ratio of 1.25 and a debt-to-equity ratio of 0.37. The company has a market cap of $180.42 billion, a PE ratio of 7.62, a PEG ratio of 2.37 and a beta of 0.51. Novartis has a twelve month low of $79.09 and a twelve month high of $95.17.

Novartis (NYSE:NVSGet Rating) last announced its earnings results on Tuesday, April 26th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.02. The company had revenue of $12.53 billion during the quarter, compared to the consensus estimate of $12.61 billion. Novartis had a return on equity of 23.16% and a net margin of 46.47%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. As a group, equities research analysts predict that Novartis will post 6.1 EPS for the current year.

Several equities research analysts recently issued reports on NVS shares. UBS Group raised their target price on shares of Novartis from CHF 85 to CHF 88 and gave the stock a “neutral” rating in a research report on Wednesday, April 27th. Barclays raised their target price on shares of Novartis from CHF 80 to CHF 85 in a research report on Thursday, April 14th. Stifel Nicolaus started coverage on shares of Novartis in a research report on Monday, February 28th. They issued a “hold” rating on the stock. Wolfe Research cut shares of Novartis from an “outperform” rating to a “market perform” rating in a research report on Monday, May 9th. Finally, Credit Suisse Group raised their target price on shares of Novartis from CHF 85 to CHF 88 in a research report on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.00.

Several institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Novartis by 4.7% during the first quarter. Fisher Asset Management LLC now owns 10,871,033 shares of the company’s stock valued at $953,933,000 after acquiring an additional 486,367 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Novartis by 1.0% during the first quarter. Bank of America Corp DE now owns 7,865,735 shares of the company’s stock worth $690,219,000 after purchasing an additional 77,437 shares during the last quarter. Boston Partners lifted its position in shares of Novartis by 6.7% during the fourth quarter. Boston Partners now owns 4,677,403 shares of the company’s stock worth $409,194,000 after purchasing an additional 292,854 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Novartis by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,399,213 shares of the company’s stock worth $386,031,000 after purchasing an additional 193,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Novartis by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,357,362 shares of the company’s stock worth $382,359,000 after purchasing an additional 487,226 shares during the last quarter. Institutional investors own 9.40% of the company’s stock.

About Novartis (Get Rating)

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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