Novartis AG (NYSE:NVS) Short Interest Update

by · The Cerbat Gem

Novartis AG (NYSE:NVS – Get Free Report) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 4,790,000 shares, a decline of 16.0% from the September 30th total of 5,700,000 shares. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 0.2% of the shares of the company are short sold.

Novartis Trading Up 1.4 %

Shares of NVS traded up $1.62 during mid-day trading on Monday, hitting $115.41. The company had a trading volume of 942,982 shares, compared to its average volume of 1,330,506. Novartis has a 1-year low of $92.35 and a 1-year high of $120.92. The business’s 50-day simple moving average is $116.42 and its 200-day simple moving average is $108.74. The stock has a market cap of $235.90 billion, a PE ratio of 14.57, a P/E/G ratio of 1.65 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

NVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $120.70.

View Our Latest Stock Analysis on NVS

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NVS. Founders Financial Securities LLC raised its position in Novartis by 3.4% in the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares during the period. NBC Securities Inc. raised its position in Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after purchasing an additional 97 shares during the period. EverSource Wealth Advisors LLC raised its position in Novartis by 5.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the period. Finally, Portside Wealth Group LLC raised its position in Novartis by 3.4% in the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Company Profile

(Get Free Report)

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.

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