Federated Hermes Inc. Has $3.92 Million Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Federated Hermes Inc. reduced its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 75.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,075 shares of the medical equipment provider's stock after selling 687,912 shares during the quarter. Federated Hermes Inc. owned 0.20% of NovoCure worth $3,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVCR. Summit Investment Advisors Inc. raised its position in NovoCure by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock valued at $332,000 after purchasing an additional 708 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of NovoCure during the fourth quarter worth $27,000. AdvisorNet Financial Inc increased its stake in shares of NovoCure by 16.7% in the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock valued at $187,000 after buying an additional 1,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NovoCure by 2.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock valued at $2,160,000 after buying an additional 1,978 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of NovoCure by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 324,592 shares of the medical equipment provider's stock valued at $5,784,000 after buying an additional 2,062 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NVCR shares. Wedbush decreased their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and set a $34.00 target price on shares of NovoCure in a research report on Friday, June 27th. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.50 price target (down previously from $40.00) on shares of NovoCure in a report on Friday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, LADENBURG THALM/SH SH initiated coverage on NovoCure in a research report on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of "Hold" and an average price target of $28.79.

NovoCure Trading Down 1.4%

Shares of NASDAQ:NVCR traded down $0.16 during trading on Friday, hitting $11.35. 563,729 shares of the company's stock were exchanged, compared to its average volume of 1,199,885. The firm has a 50-day moving average price of $16.16 and a two-hundred day moving average price of $18.45. NovoCure Limited has a 1-year low of $10.91 and a 1-year high of $34.13. The firm has a market cap of $1.27 billion, a P/E ratio of -7.29 and a beta of 0.61. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.03. The firm had revenue of $158.80 million during the quarter, compared to analyst estimates of $153.87 million. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.74%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) EPS. Equities analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

Insider Activity at NovoCure

In related news, CFO Christoph Brackmann bought 20,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of $11.59 per share, with a total value of $231,800.00. Following the completion of the purchase, the chief financial officer owned 141,150 shares of the company's stock, valued at $1,635,928.50. This represents a 16.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.52% of the stock is currently owned by company insiders.

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.