Federated Hermes Inc. Sells 89,457 Shares of NovoCure Limited (NASDAQ:NVCR)

Federated Hermes Inc. lessened its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 907,987 shares of the medical equipment provider's stock after selling 89,457 shares during the quarter. Federated Hermes Inc. owned 0.84% of NovoCure worth $27,081,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NVCR. Franklin Resources Inc. lifted its holdings in shares of NovoCure by 222.6% during the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock valued at $2,904,000 after acquiring an additional 124,793 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $37,601,000 after purchasing an additional 29,871 shares during the last quarter. Principal Financial Group Inc. acquired a new position in NovoCure in the fourth quarter valued at about $272,000. Versant Capital Management Inc grew its stake in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after buying an additional 880 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of NovoCure by 362.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider's stock worth $2,104,000 after buying an additional 55,334 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Wall Street Analyst Weigh In

NVCR has been the topic of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Wedbush reiterated a "neutral" rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.50.

NovoCure Trading Up 1.2 %

NASDAQ NVCR traded up $0.19 on Monday, reaching $16.69. The company had a trading volume of 108,010 shares, compared to its average volume of 1,185,289. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The stock's 50 day moving average is $19.59 and its 200-day moving average is $21.60. 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 $1.83 billion, a price-to-earnings ratio of -11.92 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 net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million. Equities analysts predict 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.