Novartis AG (NVS) Sees Large Decrease in Short Interest

Novartis AG (NYSE:NVS) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,766,090 shares, a drop of 36.6% from the November 30th total of 2,783,787 shares. Based on an average daily trading volume, of 1,032,386 shares, the short-interest ratio is currently 1.7 days.

Several hedge funds and other institutional investors have recently bought and sold shares of NVS. WFG Advisors LP increased its holdings in shares of Novartis by 38.1% during the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after buying an additional 337 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Novartis during the third quarter worth approximately $106,000. Cable Hill Partners LLC increased its holdings in shares of Novartis by 588.8% during the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after buying an additional 1,107 shares in the last quarter. Harding Loevner LP acquired a new stake in shares of Novartis during the second quarter worth approximately $146,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Novartis during the third quarter worth approximately $200,000. 10.85% of the stock is owned by institutional investors.

Novartis (NYSE:NVS) opened at $85.42 on Friday. The stock has a market cap of $225,150.00, a PE ratio of 30.40, a P/E/G ratio of 2.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. Novartis has a 52-week low of $69.53 and a 52-week high of $86.90.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. analysts expect that Novartis will post 4.77 EPS for the current fiscal year.

NVS has been the subject of several research reports. Zacks Investment Research upgraded shares of Novartis from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Leerink Swann increased their price target on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, October 31st. Nord/LB reissued a “neutral” rating on shares of Novartis in a research report on Tuesday. Finally, Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $85.32.

TRADEMARK VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/05/novartis-ag-nvs-sees-large-decrease-in-short-interest.html.

About Novartis

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.

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply