Teza Capital Management LLC Boosts Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Teza Capital Management LLC lifted its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 573.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,200 shares of the medical equipment provider's stock after buying an additional 85,312 shares during the quarter. Teza Capital Management LLC owned approximately 0.09% of NovoCure worth $2,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Capital International Investors raised its stake in NovoCure by 12.0% in the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after buying an additional 951,141 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of NovoCure in the 4th quarter valued at about $20,464,000. Emerald Advisers LLC acquired a new stake in shares of NovoCure during the 4th quarter worth about $16,317,000. Capital World Investors raised its position in shares of NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after acquiring an additional 507,311 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in NovoCure by 39.1% during the fourth quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock worth $38,274,000 after purchasing an additional 360,841 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Performance

NASDAQ NVCR traded up $0.63 on Friday, reaching $18.74. The stock had a trading volume of 312,373 shares, compared to its average volume of 1,140,976. The stock has a market cap of $2.09 billion, a P/E ratio of -13.37 and a beta of 0.73. NovoCure Limited has a 12-month low of $14.17 and a 12-month high of $34.13. The business's 50-day moving average price is $17.54 and its 200 day moving average price is $21.81. 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 released its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.16. The firm 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%. NovoCure's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.36) EPS. As a group, equities analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NVCR. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Piper Sandler dropped their target price on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wedbush cut their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, 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. One 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. Based on data from MarketBeat, NovoCure currently has a consensus rating of "Hold" and a consensus target price of $32.83.

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.