Hussman Strategic Advisors Inc. bought a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 105,000 shares of the medical equipment provider's stock, valued at approximately $1,871,000. Hussman Strategic Advisors Inc. owned about 0.09% of NovoCure at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NVCR. Capital International Investors lifted its position in shares of 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 acquiring an additional 951,141 shares during the period. Capital World Investors grew its stake in shares of NovoCure by 11.8% during the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after purchasing an additional 507,311 shares during the period. Soleus Capital Management L.P. acquired a new position in NovoCure in the fourth quarter valued at about $81,643,000. Northern Trust Corp boosted its position 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 worth $38,274,000 after buying an additional 360,841 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of NovoCure by 27.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock worth $31,852,000 after buying an additional 229,689 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $34.00 target price on shares of NovoCure in a report on Friday, June 27th. Wedbush dropped their price objective on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. LADENBURG THALM/SH SH began coverage on NovoCure in a research report on Tuesday, July 8th. They issued a "buy" rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.43.
Read Our Latest Analysis on NVCR
NovoCure Trading Down 0.1%
Shares of NASDAQ NVCR traded down $0.02 during trading hours on Friday, hitting $16.19. The company's stock had a trading volume of 101,368 shares, compared to its average volume of 1,120,484. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.47. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -10.70 and a beta of 0.72. NovoCure Limited has a 12 month low of $14.17 and a 12 month high of $34.13. The business has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $19.93.
NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.16. NovoCure had a negative return on equity of 45.46% and a negative net margin of 26.41%. The company had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. During the same period last year, the firm earned ($0.36) earnings per share. NovoCure's quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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