Simon Quick Advisors LLC Makes New Investment in NovoCure Limited (NASDAQ:NVCR)

Simon Quick Advisors LLC purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,309 shares of the medical equipment provider's stock, valued at approximately $255,000.

Other large investors have also added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new position in shares of NovoCure in the fourth quarter valued at $27,000. Lindbrook Capital LLC lifted its position in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. grew its stake in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of NovoCure in the 4th quarter worth $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of NovoCure in the 4th quarter worth about $70,000. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Piper Sandler dropped their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Wedbush decreased their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of "Hold" and a consensus target price of $32.83.

NovoCure Trading Up 2.1%

NASDAQ NVCR traded up $0.36 during trading on Monday, hitting $17.91. The stock had a trading volume of 1,158,226 shares, compared to its average volume of 1,182,215. NovoCure Limited has a one year low of $14.17 and a one year high of $34.13. The stock has a 50 day simple moving average of $17.46 and a 200 day simple moving average of $21.91. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -12.79 and a beta of 0.74. 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 (NASDAQ:NVCR - Get Free Report) last issued its quarterly 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. 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 period last year, the company earned ($0.36) EPS. NovoCure's quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

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.