Franklin Resources Inc. Purchases 124,793 Shares of NovoCure Limited (NASDAQ:NVCR)

Franklin Resources Inc. raised its holdings in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 222.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,853 shares of the medical equipment provider's stock after acquiring an additional 124,793 shares during the period. Franklin Resources Inc. owned approximately 0.17% of NovoCure worth $2,904,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVCR. Intech Investment Management LLC bought a new position in NovoCure during the 3rd quarter valued at $346,000. Geode Capital Management LLC boosted its stake in 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 buying an additional 29,871 shares in the last quarter. Federated Hermes Inc. grew its holdings in NovoCure by 5.8% during the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock worth $12,726,000 after acquiring an additional 40,870 shares during the period. Bank of New York Mellon Corp raised its position in NovoCure by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider's stock worth $7,194,000 after acquiring an additional 152,185 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in NovoCure by 171.9% in the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock valued at $13,022,000 after acquiring an additional 480,600 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Stock Performance

Shares of NASDAQ NVCR traded up $0.93 during trading hours on Thursday, hitting $31.90. 694,207 shares of the company's stock were exchanged, compared to its average volume of 1,327,623. The company's 50-day moving average price is $21.94 and its 200-day moving average price is $19.39. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -22.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same quarter in the previous year, the firm posted ($0.46) EPS. The business's revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts expect that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVCR has been the topic of a number of recent research reports. Wedbush restated a "neutral" rating and issued a $29.00 target price (up from $24.00) on shares of NovoCure in a report on Monday, December 2nd. HC Wainwright restated a "buy" rating and set a $38.00 price objective (up previously from $30.00) on shares of NovoCure in a report on Monday, December 2nd. Evercore ISI raised shares of NovoCure from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Piper Sandler lifted their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NovoCure currently has an average rating of "Moderate Buy" and an average price target of $32.67.

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.