Baillie Gifford & Co. Cuts Position in NovoCure Limited (NASDAQ:NVCR)

Baillie Gifford & Co. lessened its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 30.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,310 shares of the medical equipment provider's stock after selling 498,004 shares during the quarter. Baillie Gifford & Co. owned about 1.07% of NovoCure worth $34,607,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider's stock valued at $253,706,000 after buying an additional 90,422 shares in the last quarter. Nordwand Advisors LLC grew its holdings in NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock valued at $47,356,000 after buying an additional 1,514,824 shares in the last quarter. Geode Capital Management LLC grew its holdings in NovoCure by 1.3% during the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NovoCure by 10.3% during the 3rd 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 buying an additional 84,606 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in NovoCure by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider's stock valued at $12,886,000 after buying an additional 16,339 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

NovoCure Trading Up 2.0 %

Shares of NVCR stock traded up $0.44 on Friday, reaching $22.09. 1,032,305 shares of the company's stock were exchanged, compared to its average volume of 862,568. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.39 billion, a PE ratio of -15.78 and a beta of 0.62. The company's fifty day simple moving average is $26.88 and its 200 day simple moving average is $21.35.

Analyst Upgrades and Downgrades

NVCR has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler lifted their target price on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Wedbush reiterated a "neutral" rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Finally, Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Two investment 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, the stock presently has an average rating of "Moderate Buy" and an average target price 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.