NovoCure Limited (NASDAQ:NVCR) Stock Position Lifted by Millennium Management LLC

Millennium Management LLC lifted its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 735,227 shares of the medical equipment provider's stock after acquiring an additional 164,416 shares during the period. Millennium Management LLC owned 0.68% of NovoCure worth $21,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NovoCure by 2.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock worth $2,160,000 after purchasing an additional 1,978 shares in the last quarter. LMR Partners LLP bought a new stake in shares of NovoCure in the 4th quarter worth approximately $981,000. Deutsche Bank AG raised its holdings in shares of NovoCure by 20.7% in the 4th quarter. Deutsche Bank AG now owns 194,327 shares of the medical equipment provider's stock worth $5,791,000 after purchasing an additional 33,293 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of NovoCure by 223.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 335,218 shares of the medical equipment provider's stock worth $9,990,000 after purchasing an additional 231,466 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of NovoCure by 27.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock worth $31,852,000 after purchasing an additional 229,689 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVCR has been the topic of a number of research reports. Wall Street Zen downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Wedbush dropped their target price 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 cut their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.83.

NovoCure Trading Up 2.4%

Shares of NVCR stock traded up $0.43 during trading hours on Monday, reaching $18.54. 869,910 shares of the stock traded hands, compared to its average volume of 1,143,473. NovoCure Limited has a 1-year low of $14.17 and a 1-year high of $34.13. The business has a fifty day moving average price of $17.51 and a 200 day moving average price of $21.89. 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 firm has a market capitalization of $2.07 billion, a PE ratio of -13.24 and a beta of 0.73.

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

NovoCure Profile

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.