Capital International Investors increased its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,873,902 shares of the medical equipment provider's stock after acquiring an additional 951,141 shares during the quarter. Capital International Investors owned approximately 8.20% of NovoCure worth $264,442,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVCR. Geode Capital Management LLC lifted its stake in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider's stock worth $37,601,000 after purchasing an additional 29,871 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NovoCure by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock valued at $24,919,000 after buying an additional 11,771 shares during the last quarter. Granite Investment Partners LLC bought a new stake in shares of NovoCure in the 4th quarter valued at about $20,464,000. C WorldWide Group Holding A S grew its position in shares of NovoCure by 19.2% in 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 buying an additional 100,000 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of NovoCure during the 4th quarter worth approximately $16,317,000. 84.61% of the stock is currently owned by institutional investors.
NovoCure Stock Performance
NASDAQ:NVCR traded down $0.01 during midday trading on Thursday, hitting $17.76. The company's stock had a trading volume of 633,547 shares, compared to its average volume of 1,182,029. NovoCure Limited has a fifty-two week low of $11.88 and a fifty-two week 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 firm has a market cap of $1.98 billion, a P/E ratio of -12.69 and a beta of 0.65. The firm's 50 day moving average is $18.63 and its 200-day moving average is $21.57.
NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Equities analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on NVCR shares. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. StockNews.com raised NovoCure from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Piper Sandler cut their price objective on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wedbush lowered their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.83.
Check Out Our Latest Research Report on NovoCure
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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