Teacher Retirement System of Texas Purchases New Shares in NovoCure Limited (NASDAQ:NVCR)

Teacher Retirement System of Texas acquired a new stake in NovoCure Limited (NASDAQ:NVCR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 59,252 shares of the medical equipment provider's stock, valued at approximately $1,766,000. Teacher Retirement System of Texas owned approximately 0.05% of NovoCure at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. bought a new position in NovoCure during the fourth quarter valued at approximately $231,000. Cibc World Markets Corp bought a new position in shares of NovoCure during the 4th quarter valued at $297,000. Swiss National Bank boosted its stake in shares of NovoCure by 1.3% in the 4th quarter. Swiss National Bank now owns 202,200 shares of the medical equipment provider's stock worth $6,026,000 after buying an additional 2,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NovoCure by 2.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 437,772 shares of the medical equipment provider's stock worth $13,046,000 after buying an additional 11,509 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NovoCure by 21.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,385 shares of the medical equipment provider's stock worth $816,000 after acquiring an additional 4,760 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NVCR shares. Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reissued a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. HC Wainwright restated a "buy" rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler increased their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

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NovoCure Stock Performance

NovoCure stock traded down $1.04 during midday trading on Monday, hitting $17.82. The stock had a trading volume of 844,451 shares, compared to its average volume of 1,202,724. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13. The company has a market capitalization of $1.96 billion, a PE ratio of -12.73 and a beta of 0.63. The firm's fifty day moving average is $21.56 and its two-hundred day moving average is $21.68. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $161.30 million. On average, research analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

NovoCure 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.