Emerald Advisers LLC Takes Position in NovoCure Limited (NASDAQ:NVCR)

Emerald Advisers LLC purchased a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 547,557 shares of the medical equipment provider's stock, valued at approximately $16,317,000. Emerald Advisers LLC owned approximately 0.51% of NovoCure at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVCR. FMR LLC increased its position in shares of NovoCure by 0.6% during the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider's stock worth $253,706,000 after purchasing an additional 90,422 shares in the last quarter. Geode Capital Management LLC grew its stake in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider's stock worth $37,601,000 after buying an additional 29,871 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NovoCure by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider's stock valued at $14,192,000 after buying an additional 84,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in NovoCure by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock valued at $24,919,000 after buying an additional 11,771 shares during the last quarter. Finally, C WorldWide Group Holding A S boosted its holdings in NovoCure by 19.2% in the fourth quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider's stock worth $18,529,000 after acquiring an additional 100,000 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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NovoCure Stock Performance

NASDAQ NVCR traded up $0.53 on Thursday, hitting $18.97. 490,446 shares of the company's stock traded hands, compared to its average volume of 1,191,815. The firm has a market capitalization of $2.09 billion, a PE ratio of -13.55 and a beta of 0.63. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The firm's 50-day moving average price is $21.87 and its two-hundred day moving average price is $21.60. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

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

Analyst Ratings Changes

Several research firms have recently issued reports on NVCR. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. 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. Wedbush reaffirmed a "neutral" rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Piper Sandler boosted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Finally, StockNews.com raised NovoCure from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.80.

NovoCure 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.