LPL Financial LLC Acquires Shares of 27,861 NovoCure Limited (NASDAQ:NVCR)

LPL Financial LLC acquired a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,861 shares of the medical equipment provider's stock, valued at approximately $830,000.

Several other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC grew its stake in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. raised its position in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 781 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in NovoCure during the fourth quarter worth about $70,000. Versant Capital Management Inc raised its holdings in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after acquiring an additional 880 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock worth $129,000 after purchasing an additional 1,575 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NovoCure Trading Up 1.1 %

Shares of NVCR traded up $0.20 during mid-day trading on Friday, reaching $18.75. The company's stock had a trading volume of 534,457 shares, compared to its average volume of 1,182,256. The stock has a market cap of $2.09 billion, a PE ratio of -13.41 and a beta of 0.65. The company's fifty day moving average price is $18.55 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 Limited has a 52 week low of $11.88 and a 52 week high of $34.13.

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

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.