NovoCure Limited (NASDAQ:NVCR) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC cut its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,826 shares of the medical equipment provider's stock after selling 40,111 shares during the period. Essex Investment Management Co. LLC owned approximately 0.11% of NovoCure worth $3,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NVCR. Franklin Resources Inc. raised its holdings in NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock valued at $2,904,000 after buying an additional 124,793 shares during the period. Intech Investment Management LLC acquired a new stake in shares of NovoCure during the third quarter valued at about $346,000. Geode Capital Management LLC raised its stake in shares of NovoCure by 1.3% in 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 acquiring an additional 29,871 shares during the period. FMR LLC lifted its holdings in shares of NovoCure by 0.6% in the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider's stock worth $253,706,000 after acquiring an additional 90,422 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of NovoCure in the 4th quarter worth approximately $272,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Down 2.7 %

Shares of NovoCure stock traded down $0.56 on Thursday, reaching $20.06. 617,207 shares of the company were exchanged, compared to its average volume of 1,251,627. The stock's 50 day moving average price is $23.83 and its 200-day moving average price is $21.54. 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 Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The company has a market cap of $2.20 billion, a P/E ratio of -14.33 and a beta of 0.63.

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NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million for the quarter, compared to analysts' expectations of $161.30 million. As a group, equities analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and raised their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Wedbush reissued a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $32.67.

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.