Simon Quick Advisors LLC Invests $255,000 in NovoCure Limited (NASDAQ:NVCR)

Simon Quick Advisors LLC acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,309 shares of the medical equipment provider's stock, valued at approximately $255,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after purchasing an additional 781 shares in the last quarter. Rhumbline Advisers raised its stake in shares of NovoCure by 2.2% during the 4th quarter. Rhumbline Advisers now owns 145,469 shares of the medical equipment provider's stock worth $4,335,000 after buying an additional 3,115 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of NovoCure during the 4th quarter worth $272,000. Truist Financial Corp purchased a new stake in shares of NovoCure in the 4th quarter worth about $340,000. Finally, New York State Common Retirement Fund grew its stake in NovoCure by 201.9% in the 4th quarter. New York State Common Retirement Fund now owns 99,595 shares of the medical equipment provider's stock valued at $2,968,000 after acquiring an additional 66,602 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVCR has been the subject of a number of research reports. Piper Sandler cut their target price on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wedbush dropped their price objective 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. reduced their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, NovoCure has a consensus rating of "Hold" and an average target price of $32.83.

NovoCure Trading Down 3.6%

Shares of NASDAQ:NVCR traded down $0.63 during trading on Thursday, reaching $16.80. The stock had a trading volume of 1,271,609 shares, compared to its average volume of 1,180,665. The company has a quick ratio of 1.41, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.87 billion, a P/E ratio of -11.13 and a beta of 0.74. The business has a fifty day moving average price of $17.52 and a 200-day moving average price of $21.83. 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 issued its quarterly 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. NovoCure had a negative return on equity of 45.46% and a negative net margin of 26.41%. The company had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same period in the previous year, the firm posted ($0.36) EPS. NovoCure's revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that NovoCure Limited will post -1.3 earnings per share 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.