Proficio Capital Partners LLC acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 30,158 shares of the medical equipment provider's stock, valued at approximately $899,000.
A number of other hedge funds have also recently made changes to their positions in NVCR. Brooklyn Investment Group bought a new position in NovoCure in the third quarter worth about $45,000. Blue Trust Inc. raised its stake in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after acquiring an additional 781 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure during the 4th quarter valued at $70,000. Versant Capital Management Inc raised its stake in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after buying an additional 880 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock worth $129,000 after purchasing an additional 1,575 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
NovoCure Stock Down 5.1 %
Shares of NovoCure stock traded down $1.01 during trading hours on Tuesday, hitting $18.77. The company had a trading volume of 528,996 shares, compared to its average volume of 1,243,584. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The company has a market cap of $2.06 billion, a P/E ratio of -13.41 and a beta of 0.63. The company's 50-day moving average is $22.32 and its two-hundred day moving average is $21.62.
NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have weighed in on NVCR shares. StockNews.com upgraded NovoCure from a "sell" rating to a "hold" rating in a research note on Tuesday, March 18th. HC Wainwright reaffirmed a "buy" rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler increased their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Wedbush reissued a "neutral" rating and issued a $29.00 target price on shares of NovoCure in a research 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 company from $18.00 to $30.00 in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.80.
Get Our Latest Analysis on NVCR
About NovoCure
(
Free Report)
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.
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