BNP Paribas Financial Markets Sells 147,371 Shares of NovoCure Limited (NASDAQ:NVCR)

BNP Paribas Financial Markets decreased its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 83.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,555 shares of the medical equipment provider's stock after selling 147,371 shares during the quarter. BNP Paribas Financial Markets' holdings in NovoCure were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. GeoWealth Management LLC bought a new position in NovoCure in the 4th quarter worth $27,000. Lindbrook Capital LLC increased its position in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. raised its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in NovoCure in the fourth quarter worth about $70,000. Finally, Nisa Investment Advisors LLC lifted its holdings in NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock worth $129,000 after buying an additional 1,575 shares during the period. Institutional investors own 84.61% of the company's stock.

NovoCure Stock Performance

NovoCure stock opened at $17.75 on Thursday. NovoCure Limited has a twelve month low of $14.17 and a twelve month 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 capitalization of $1.98 billion, a P/E ratio of -12.68 and a beta of 0.73. The stock's 50 day moving average is $17.57 and its 200 day moving average is $21.80.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate 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 business had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. During the same period in the previous year, the company posted ($0.36) earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NVCR shares. Wedbush reduced their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reduced their price target on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, NovoCure presently has an average rating of "Hold" and an average price target of $32.83.

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.

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