Franklin Resources Inc. lowered its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,064 shares of the medical equipment provider's stock after selling 24,789 shares during the quarter. Franklin Resources Inc. owned 0.14% of NovoCure worth $4,651,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Emerald Advisers LLC purchased a new position in NovoCure in the 4th quarter valued at about $16,317,000. C WorldWide Group Holding A S boosted its holdings in shares of NovoCure by 19.2% during the fourth quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider's stock valued at $18,529,000 after acquiring an additional 100,000 shares during the period. New York State Common Retirement Fund grew its holdings in NovoCure by 201.9% in the 4th quarter. New York State Common Retirement Fund now owns 99,595 shares of the medical equipment provider's stock worth $2,968,000 after buying an additional 66,602 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in NovoCure during the 4th quarter valued at about $1,766,000. Finally, Los Angeles Capital Management LLC boosted its stake in 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 valued at $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.
NovoCure Price Performance
Shares of NVCR traded down $0.65 during trading hours on Wednesday, hitting $15.81. The stock had a trading volume of 150,784 shares, compared to its average volume of 1,181,275. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The company's fifty day moving average is $19.31 and its two-hundred day moving average is $21.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -11.26 and a beta of 0.65.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million during 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%. On average, analysts anticipate that NovoCure Limited will post -1.3 EPS for the current year.
Analyst Upgrades and Downgrades
NVCR has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a report on Wednesday, April 9th. Finally, Wedbush cut their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $34.17.
View Our Latest Analysis on NVCR
About NovoCure
(
Free Report)
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.
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