Capital World Investors Has $143.50 Million Stock Position in NovoCure Limited (NASDAQ:NVCR)

Capital World Investors increased its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,815,529 shares of the medical equipment provider's stock after acquiring an additional 507,311 shares during the quarter. Capital World Investors owned approximately 4.45% of NovoCure worth $143,503,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. GeoWealth Management LLC purchased a new stake in shares of NovoCure during the 4th quarter worth approximately $27,000. Lindbrook Capital LLC raised its holdings in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 1,213 shares during the last quarter. Blue Trust Inc. raised its stake in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after purchasing an additional 781 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in NovoCure in the 4th quarter worth approximately $70,000. Finally, Versant Capital Management Inc grew its position 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 valued at $100,000 after purchasing an additional 880 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVCR has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday. HC Wainwright reissued a "buy" rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wedbush decreased their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, StockNews.com lowered shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.83.

NovoCure Price Performance

Shares of NASDAQ NVCR traded down $0.05 during mid-day trading on Friday, reaching $18.50. The company had a trading volume of 1,010,288 shares, compared to its average volume of 1,183,919. The stock has a market cap of $2.06 billion, a PE ratio of -13.21 and a beta of 0.65. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $18.55 and a two-hundred day moving average price of $21.60. NovoCure Limited has a 1-year low of $11.88 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. On average, equities analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

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.