Deutsche Bank AG Raises Holdings in NovoCure Limited (NASDAQ:NVCR)

Deutsche Bank AG lifted its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 194,327 shares of the medical equipment provider's stock after purchasing an additional 33,293 shares during the quarter. Deutsche Bank AG owned 0.18% of NovoCure worth $5,791,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC bought a new stake in NovoCure during the fourth quarter worth about $27,000. Lindbrook Capital LLC grew its stake in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. grew its stake in NovoCure by 70.7% during 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in NovoCure during the fourth quarter worth about $70,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Price Performance

NovoCure stock traded up $0.43 during mid-day trading on Friday, hitting $18.54. 869,910 shares of the company traded hands, compared to its average volume of 1,143,473. NovoCure Limited has a one year low of $14.17 and a one year high of $34.13. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -13.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a fifty day moving average price of $17.53 and a 200-day moving average price of $21.85.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $147.57 million. During the same period in the previous year, the firm earned ($0.36) EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Wedbush cut their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. One research 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.