SG Americas Securities LLC Buys Shares of 29,580 NovoCure Limited (NASDAQ:NVCR)

SG Americas Securities LLC purchased a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 29,580 shares of the medical equipment provider's stock, valued at approximately $527,000.

A number of other large investors also recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. purchased a new position in shares of NovoCure in the fourth quarter valued at approximately $81,643,000. Capital International Investors raised its stake in NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after purchasing an additional 951,141 shares during the last quarter. Granite Investment Partners LLC acquired a new position in NovoCure in the 4th quarter valued at $20,464,000. Emerald Advisers LLC purchased a new position in NovoCure in the 4th quarter valued at $16,317,000. Finally, Capital World Investors boosted its stake in NovoCure by 11.8% during the 4th 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 last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVCR shares. JPMorgan Chase & Co. reduced their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. 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. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Piper Sandler dropped their price target 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 given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, NovoCure has a consensus rating of "Hold" and an average price target of $32.83.

NovoCure Trading Down 1.3%

Shares of NVCR traded down $0.23 during mid-day trading on Thursday, reaching $17.10. The stock had a trading volume of 815,261 shares, compared to its average volume of 1,188,728. NovoCure Limited has a 52-week low of $14.17 and a 52-week high of $34.13. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -11.32 and a beta of 0.74. The business's fifty day moving average is $17.58 and its 200 day moving average is $21.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.47 and a quick ratio of 1.41.

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 for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. NovoCure's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) EPS. On average, sell-side analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

NovoCure Company 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.