Voloridge Investment Management LLC Lowers Stake in NovoCure Limited (NASDAQ:NVCR)

Voloridge Investment Management LLC lessened its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 870,155 shares of the medical equipment provider's stock after selling 158,270 shares during the quarter. Voloridge Investment Management LLC owned 0.80% of NovoCure worth $25,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new stake in shares of NovoCure during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC raised its holdings in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. boosted its position in 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 buying an additional 781 shares during the period. SBI Securities Co. Ltd. bought a new stake in NovoCure in the 4th quarter worth $70,000. Finally, Nisa Investment Advisors LLC grew its holdings in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock worth $129,000 after acquiring an additional 1,575 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 3.5%

NVCR traded up $0.65 on Tuesday, hitting $19.19. The company had a trading volume of 191,856 shares, compared to its average volume of 1,139,826. The stock has a fifty day simple moving average of $17.51 and a 200-day simple moving average of $21.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market capitalization of $2.14 billion, a P/E ratio of -13.70 and a beta of 0.73. NovoCure Limited has a 52-week low of $14.17 and a 52-week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced 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 41.48% and a negative net margin of 25.93%. The firm had revenue of $154.99 million during the quarter, compared to analyst estimates of $147.57 million. During the same quarter in the prior year, the company earned ($0.36) EPS. The business's revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVCR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Piper Sandler reduced their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, NovoCure has a consensus rating of "Hold" and an average price target 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.