Silvercrest Asset Management Group LLC Has $10.38 Million Stake in NovoCure Limited (NASDAQ:NVCR)

Silvercrest Asset Management Group LLC decreased its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 348,307 shares of the medical equipment provider's stock after selling 147,804 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.32% of NovoCure worth $10,380,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVCR. Capital International Investors boosted its stake in shares of NovoCure by 12.0% during the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after acquiring an additional 951,141 shares in the last quarter. Capital World Investors lifted its holdings in shares of NovoCure by 11.8% during the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after purchasing an additional 507,311 shares during the last quarter. Northern Trust Corp boosted its position in shares of NovoCure by 39.1% in the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock valued at $38,274,000 after purchasing an additional 360,841 shares during the period. Balyasny Asset Management L.P. increased its stake in NovoCure by 27.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock worth $31,852,000 after purchasing an additional 229,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NovoCure by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock worth $24,919,000 after buying an additional 11,771 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler reduced their price objective on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target 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 lowered their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.83.

NovoCure Stock Up 2.2%

Shares of NASDAQ NVCR traded up $0.41 during mid-day trading on Friday, reaching $18.52. The company had a trading volume of 132,074 shares, compared to its average volume of 1,140,247. 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 market capitalization of $2.06 billion, a price-to-earnings ratio of -13.22 and a beta of 0.73. The stock has a fifty day moving average of $17.54 and a two-hundred day moving average of $21.81. NovoCure Limited has a 12-month low of $14.17 and a 12-month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. The company 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 25.93% and a negative return on equity of 41.48%. The company's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.36) EPS. As a group, equities research analysts expect that NovoCure Limited will post -1.3 EPS for the current 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.