325,255 Shares in NovoCure Limited (NASDAQ:NVCR) Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 325,255 shares of the medical equipment provider's stock, valued at approximately $9,693,000. Emerald Mutual Fund Advisers Trust owned approximately 0.30% of NovoCure at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors boosted its stake in NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after buying an additional 951,141 shares during the last quarter. Capital World Investors grew its stake in shares of NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after buying an additional 507,311 shares during the period. Northern Trust Corp raised its position in shares of NovoCure by 39.1% in the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock worth $38,274,000 after buying an additional 360,841 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 11,771 shares during the period. Finally, Granite Investment Partners LLC acquired a new stake in NovoCure during the fourth quarter worth about $20,464,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVCR shares. Wedbush reduced their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Piper Sandler lowered their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a report 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, HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, NovoCure currently has an average rating of "Hold" and an average price target of $32.83.

NovoCure Stock Performance

Shares of NVCR traded up $0.20 during mid-day trading on Friday, hitting $18.15. The stock had a trading volume of 728,550 shares, compared to its average volume of 1,178,014. NovoCure Limited has a fifty-two week low of $14.17 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 company has a market cap of $2.02 billion, a PE ratio of -12.96 and a beta of 0.65. The company's fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $21.71.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its earnings results 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. The company had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) earnings per share. On average, equities analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

About NovoCure

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.