29,580 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by SG Americas Securities LLC

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

Several other institutional investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its position in shares of NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock valued at $332,000 after buying an additional 708 shares during the period. Blue Trust Inc. raised 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 buying an additional 781 shares during the period. GeoWealth Management LLC purchased a new stake in shares of NovoCure during the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC raised its position 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 valued at $55,000 after buying an additional 1,213 shares during the period. Finally, AdvisorNet Financial Inc raised its position in shares of NovoCure by 16.7% during the 1st quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock valued at $187,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVCR. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler cut their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, NovoCure presently has an average rating of "Hold" and a consensus price target of $32.83.

NovoCure Stock Down 0.5%

Shares of NASDAQ:NVCR traded down $0.08 during trading on Monday, hitting $16.61. The company's stock had a trading volume of 767,961 shares, compared to its average volume of 1,181,481. The business has a 50 day moving average price of $17.54 and a two-hundred day moving average price of $21.47. The company has a market capitalization of $1.85 billion, a PE ratio of -11.00 and a beta of 0.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.47. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted 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. The business had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. As a group, research analysts expect 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.