Deutsche Bank AG grew its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 20.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,327 shares of the medical equipment provider's stock after purchasing an additional 33,293 shares during the period. Deutsche Bank AG owned approximately 0.18% of NovoCure worth $5,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GeoWealth Management LLC acquired a new position in NovoCure during the fourth quarter worth $27,000. Lindbrook Capital LLC raised its holdings in shares of NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 1,213 shares during the period. Blue Trust Inc. boosted its position in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after acquiring an additional 781 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NovoCure during the 4th quarter valued at about $70,000. Finally, Nisa Investment Advisors LLC grew 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 during the period. Institutional investors and hedge funds own 84.61% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on NVCR. Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Piper Sandler lowered their price objective on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One equities 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $32.83.
Check Out Our Latest Stock Analysis on NVCR
NovoCure Stock Performance
NASDAQ:NVCR opened at $17.89 on Monday. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. 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 company has a 50 day moving average price of $17.70 and a 200 day moving average price of $21.84. The stock has a market capitalization of $1.99 billion, a P/E ratio of -12.78 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) 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 during the quarter, compared to analyst estimates of $147.57 million. During the same period last year, the business posted ($0.36) earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that NovoCure Limited will post -1.3 EPS for the current 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.
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