Proficio Capital Partners LLC bought a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,158 shares of the medical equipment provider's stock, valued at approximately $899,000.
A number of other institutional investors also recently added to or reduced their stakes in NVCR. Nordwand Advisors LLC increased its stake in shares of NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the period. Franklin Resources Inc. raised its position in NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after acquiring an additional 124,793 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in NovoCure in the 3rd quarter valued at about $1,812,000. C WorldWide Group Holding A S boosted its position in shares of NovoCure by 19.2% during the 4th quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider's stock valued at $18,529,000 after purchasing an additional 100,000 shares in the last quarter. Finally, FMR LLC grew its stake 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 purchasing an additional 90,422 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.
NovoCure Stock Performance
Shares of NVCR stock traded down $0.73 during trading hours on Wednesday, reaching $20.59. 856,519 shares of the company's stock were exchanged, compared to its average volume of 1,252,416. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.26 billion, a P/E ratio of -14.73 and a beta of 0.63. The business has a fifty day moving average price of $24.01 and a 200-day moving average price of $21.55.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently commented on NVCR shares. StockNews.com lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Monday, March 3rd. HC Wainwright reissued a "buy" rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Wedbush restated a "neutral" rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and upped their price target for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, Piper Sandler raised their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, NovoCure has an average rating of "Hold" and a consensus target price of $32.67.
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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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