NovoCure Limited (NASDAQ:NVCR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,796,109 shares of the medical equipment provider's stock after selling 48,499 shares during the period. Vanguard Group Inc. owned about 10.90% of NovoCure worth $351,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVCR. Franklin Resources Inc. lifted its holdings in NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after buying an additional 124,793 shares during the last quarter. C WorldWide Group Holding A S raised 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 worth $18,529,000 after acquiring an additional 100,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NovoCure by 10.3% during the third 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 worth $14,192,000 after purchasing an additional 84,606 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in NovoCure by 201.9% in the fourth quarter. New York State Common Retirement Fund now owns 99,595 shares of the medical equipment provider's stock valued at $2,968,000 after purchasing an additional 66,602 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in NovoCure in the fourth quarter valued at approximately $1,766,000. Institutional investors and hedge funds own 84.61% of the company's stock.

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NovoCure Price Performance

NVCR stock traded down $0.01 during trading on Monday, reaching $16.48. 404,497 shares of the company were exchanged, compared to its average volume of 1,188,016. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The company has a market cap of $1.81 billion, a P/E ratio of -11.79 and a beta of 0.65. The stock's 50 day moving average price is $20.79 and its 200 day moving average price is $21.66.

NovoCure (NASDAQ:NVCR - Get Free Report) last released 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 firm had revenue of $161.27 million during 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%. As a group, analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on NVCR shares. HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and issued a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Piper Sandler raised their price objective on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

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.