Novartis AG (NVS) Short Interest Down 33.5% in September
Novartis AG (NYSE:NVS) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,327,917 shares, a drop of 33.5% from the August 31st total of 1,996,918 shares. Based on an average daily trading volume, of 1,788,278 shares, the short-interest ratio is presently 0.7 days.
Novartis AG (NYSE NVS) opened at 86.65 on Wednesday. The firm has a 50-day moving average of $84.67 and a 200-day moving average of $81.25. The stock has a market capitalization of $203.01 billion, a PE ratio of 31.64 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. On average, equities analysts expect that Novartis AG will post $4.75 EPS for the current year.
A number of research analysts have weighed in on NVS shares. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 26th. Zacks Investment Research downgraded shares of Novartis AG from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $85.12.
A number of institutional investors and hedge funds have recently bought and sold shares of NVS. City Holding Co. grew its holdings in Novartis AG by 4.6% during the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after purchasing an additional 54 shares during the last quarter. WFG Advisors LP raised its position in shares of Novartis AG by 38.1% in the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after purchasing an additional 337 shares during the period. Archford Capital Strategies LLC raised its position in shares of Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after purchasing an additional 621 shares during the period. Kernodle & Katon Asset Management Group LLC raised its position in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares during the period. Finally, North Star Investment Management Corp. lifted its stake in shares of Novartis AG by 1.0% in the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.
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About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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