Legato Capital Management LLC Has $1.09 Million Stake in NovoCure Limited (NASDAQ:NVCR)

Legato Capital Management LLC reduced its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,460 shares of the medical equipment provider's stock after selling 19,107 shares during the period. Legato Capital Management LLC's holdings in NovoCure were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVCR. FMR LLC grew its holdings in shares of NovoCure by 0.6% during the 3rd 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. Nordwand Advisors LLC increased its position in shares of NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock valued at $47,356,000 after purchasing an additional 1,514,824 shares during the period. Geode Capital Management LLC increased its position in shares of NovoCure by 1.3% during the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NovoCure by 10.3% during the third 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 purchasing an additional 84,606 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NovoCure by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider's stock valued at $12,886,000 after purchasing an additional 16,339 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Trading Up 3.5 %

Shares of NovoCure stock traded up $0.77 during trading hours on Friday, hitting $22.48. The company's stock had a trading volume of 740,167 shares, compared to its average volume of 839,573. NovoCure Limited has a 12 month low of $11.70 and a 12 month high of $34.13. The stock has a 50 day moving average of $27.51 and a 200 day moving average of $21.34. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NVCR shares. Piper Sandler boosted their price objective on NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Wedbush reaffirmed a "neutral" rating and issued a $29.00 price target on shares of NovoCure in a research note on Monday, January 13th. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and upped their price target for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

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.