Frontier Capital Management Co. LLC Reduces Holdings in NovoCure Limited (NASDAQ:NVCR)

Frontier Capital Management Co. LLC decreased its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 726,324 shares of the medical equipment provider's stock after selling 145,096 shares during the period. Frontier Capital Management Co. LLC owned 0.67% of NovoCure worth $21,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its position in shares of NovoCure by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock valued at $332,000 after buying an additional 708 shares during the last quarter. Blue Trust Inc. raised its position in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 781 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC raised its position in shares of 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 buying an additional 1,213 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of NovoCure by 57.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after buying an additional 1,575 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

NovoCure Trading Down 0.3%

NVCR traded down $0.06 on Friday, hitting $17.38. The company had a trading volume of 1,001,106 shares, compared to its average volume of 1,174,812. The company has a market cap of $1.94 billion, a PE ratio of -12.41 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 company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The business's fifty day simple moving average is $17.92 and its 200 day simple moving average is $21.79.

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, topping the consensus estimate 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 revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) earnings per share. Equities research analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent analyst reports. Piper Sandler reduced their price objective 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. HC Wainwright reiterated a "buy" rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. StockNews.com cut shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Wedbush decreased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $32.83.

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.