Capital International Investors Boosts Position in NovoCure Limited (NASDAQ:NVCR)

Capital International Investors boosted its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,873,902 shares of the medical equipment provider's stock after acquiring an additional 951,141 shares during the period. Capital International Investors owned 8.20% of NovoCure worth $264,442,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

NVCR has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler dropped their price objective on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. Wedbush reduced their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, StockNews.com upgraded NovoCure from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.83.

NovoCure Price Performance

NASDAQ:NVCR traded up $1.19 during midday trading on Wednesday, hitting $17.70. The company had a trading volume of 1,138,746 shares, compared to its average volume of 1,182,226. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13. 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's fifty day moving average price is $18.73 and its 200-day moving average price is $21.60. The company has a market capitalization of $1.95 billion, a PE ratio of -12.64 and a beta of 0.65.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $161.27 million during the quarter, compared to analysts' expectations of $161.30 million. As a group, research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

NovoCure Company Profile

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.