KLP Kapitalforvaltning AS Invests $644,000 in NovoCure Limited (NASDAQ:NVCR)

KLP Kapitalforvaltning AS purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 21,600 shares of the medical equipment provider's stock, valued at approximately $644,000.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC raised its position in shares of NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NovoCure in the fourth quarter worth $70,000. Versant Capital Management Inc raised its holdings in shares of NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after acquiring an additional 880 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after acquiring an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

NovoCure Trading Down 5.4 %

Shares of NVCR traded down $0.96 during mid-day trading on Thursday, hitting $16.98. The company had a trading volume of 663,713 shares, compared to its average volume of 1,192,481. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.87 billion, a PE ratio of -12.13 and a beta of 0.65. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The business's 50-day simple moving average is $21.19 and its 200-day simple moving average is $21.65.

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NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. Sell-side analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Wedbush reaffirmed a "neutral" rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Finally, Piper Sandler boosted their price target on NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, NovoCure has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.