Algert Global LLC Buys New Holdings in NovoCure Limited (NASDAQ:NVCR)

Algert Global LLC bought a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 69,261 shares of the medical equipment provider's stock, valued at approximately $2,064,000. Algert Global LLC owned 0.06% of NovoCure at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC purchased a new position in shares of NovoCure in the fourth quarter valued at $3,137,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of NovoCure during the fourth quarter valued at $9,693,000. Northern Trust Corp boosted its stake in shares of NovoCure by 39.1% during the fourth quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock valued at $38,274,000 after purchasing an additional 360,841 shares during the period. Birchview Capital LP boosted its stake in shares of NovoCure by 55.0% during the fourth quarter. Birchview Capital LP now owns 31,000 shares of the medical equipment provider's stock valued at $924,000 after purchasing an additional 11,000 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of NovoCure in the fourth quarter valued at about $5,960,000. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVCR shares. JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. HC Wainwright reaffirmed a "buy" rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Piper Sandler reduced their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One research 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.com, NovoCure currently has a consensus rating of "Hold" and a consensus target price of $32.83.

NovoCure Trading Up 6.8%

NovoCure stock traded up $1.19 during midday trading on Monday, reaching $18.57. 1,051,611 shares of the stock traded hands, compared to its average volume of 1,174,319. The company has a 50-day simple moving average of $17.92 and a two-hundred day simple moving average of $21.79. NovoCure Limited has a 12-month low of $14.17 and a 12-month high of $34.13. The firm has a market cap of $2.07 billion, a PE ratio of -13.26 and a beta of 0.73. 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 earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $154.99 million during the quarter, compared to analysts' expectations of $147.57 million. During the same period last year, the business posted ($0.36) EPS. NovoCure's revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal 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.