NovoCure Limited (NASDAQ:NVCR) Stake Lessened by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lessened its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 29.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,307 shares of the medical equipment provider's stock after selling 147,804 shares during the period. Silvercrest Asset Management Group LLC owned 0.32% of NovoCure worth $10,380,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. acquired a new position in NovoCure in the 4th quarter valued at $272,000. LPL Financial LLC purchased a new stake in NovoCure during the 4th quarter worth $830,000. Los Angeles Capital Management LLC grew its stake in shares of NovoCure by 362.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider's stock valued at $2,104,000 after buying an additional 55,334 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in NovoCure in the fourth quarter valued at approximately $899,000. Finally, Choreo LLC purchased a new stake in NovoCure during the 4th quarter worth $251,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NASDAQ:NVCR traded down $0.45 during trading hours on Wednesday, hitting $17.75. 1,340,234 shares of the company's stock traded hands, compared to its average volume of 1,146,388. The company's fifty day simple moving average is $17.61 and its two-hundred day simple moving average is $21.83. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -12.68 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. 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 posted its quarterly 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. The firm had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) earnings per share. As a group, equities analysts anticipate that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

NVCR has been the subject of a number of research analyst reports. Wedbush dropped their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price 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. Piper Sandler lowered their price objective on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, NovoCure currently has a consensus rating of "Hold" and an average target price of $32.83.

NovoCure 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.