Baillie Gifford & Co. Sells 28,207 Shares of NovoCure Limited (NASDAQ:NVCR)

Baillie Gifford & Co. reduced its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,659,314 shares of the medical equipment provider's stock after selling 28,207 shares during the quarter. Baillie Gifford & Co. owned about 1.53% of NovoCure worth $25,935,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in NovoCure by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider's stock worth $37,184,000 after acquiring an additional 125,715 shares during the period. Tidal Investments LLC acquired a new stake in shares of NovoCure in the first quarter valued at approximately $695,000. Federated Hermes Inc. raised its position in shares of NovoCure by 5.8% in the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock valued at $12,726,000 after buying an additional 40,870 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $7,194,000 after buying an additional 152,185 shares during the period. Finally, Renaissance Technologies LLC grew its position in NovoCure by 171.9% during the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock worth $13,022,000 after buying an additional 480,600 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Performance

NASDAQ NVCR traded up $0.07 during trading on Wednesday, hitting $17.89. 766,372 shares of the company's stock were exchanged, compared to its average volume of 1,297,410. The stock's 50 day moving average price is $16.58 and its two-hundred day moving average price is $18.22. NovoCure Limited has a fifty-two week low of $11.29 and a fifty-two week high of $24.74. 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 released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $155.10 million during the quarter, compared to analysts' expectations of $143.95 million. During the same period in the prior year, the company earned ($0.46) EPS. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that NovoCure Limited will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on NovoCure from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, July 26th. Evercore ISI reduced their price objective on shares of NovoCure from $21.00 to $18.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of NovoCure in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an "outperform" rating and set a $24.00 price target on shares of NovoCure in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.17.

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.