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

Teza Capital Management LLC increased its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 573.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,200 shares of the medical equipment provider's stock after purchasing an additional 85,312 shares during the quarter. Teza Capital Management LLC owned approximately 0.09% of NovoCure worth $2,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVCR. Summit Investment Advisors Inc. boosted its position in NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock valued at $332,000 after acquiring an additional 708 shares in the last quarter. Blue Trust Inc. boosted its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after acquiring an additional 781 shares in the last quarter. GeoWealth Management LLC bought a new stake in NovoCure during the 4th quarter valued at $27,000. Lindbrook Capital LLC boosted its position in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after acquiring an additional 1,213 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in NovoCure by 57.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after acquiring an additional 1,575 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

NVCR has been the topic of several recent research reports. Piper Sandler dropped their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wedbush decreased their price objective on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of "Hold" and a consensus price target of $32.83.

NovoCure Stock Performance

NVCR stock traded down $0.45 during midday trading on Wednesday, reaching $17.75. The stock had a trading volume of 1,340,234 shares, compared to its average volume of 1,146,388. The stock has a market cap of $1.98 billion, a PE 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. The firm has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $21.83. 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 issued 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 analyst estimates of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS. As a group, equities research analysts anticipate that NovoCure Limited will post -1.3 EPS 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.