Marshall Wace LLP Has $8.07 Million Position in NovoCure Limited (NASDAQ:NVCR)

Marshall Wace LLP lowered its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 65.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,952 shares of the medical equipment provider's stock after selling 508,718 shares during the period. Marshall Wace LLP owned approximately 0.25% of NovoCure worth $8,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Granite Investment Partners LLC acquired a new position in NovoCure in the 4th quarter worth about $20,464,000. Emerald Advisers LLC acquired a new position in NovoCure during the fourth quarter worth $16,317,000. EAM Investors LLC bought a new position in shares of NovoCure in the fourth quarter valued at approximately $4,228,000. Franklin Resources Inc. lifted its stake in shares of NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after buying an additional 124,793 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new position in NovoCure in the 4th quarter valued at $3,272,000. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Price Performance

NVCR traded down $0.05 during midday trading on Friday, reaching $18.50. 1,012,047 shares of the company's stock were exchanged, compared to its average volume of 1,184,047. NovoCure Limited has a one year low of $12.01 and a one year high of $34.13. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.21 and a beta of 0.65. The business has a 50-day simple moving average of $18.48 and a two-hundred day simple moving average of $21.63. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler dropped their price objective on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research report on Friday. HC Wainwright restated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush cut their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, 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 note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.83.

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.