NovoCure Limited (NASDAQ:NVCR) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC decreased its holdings in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 16.7% during the fourth quarter, according to its most recent filing with the SEC. 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 reporting period.

Several other large investors have also modified their holdings of NVCR. Capital International Investors grew its position in shares of NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after buying an additional 951,141 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of NovoCure during the fourth quarter worth $20,464,000. Emerald Advisers LLC purchased a new stake in shares of NovoCure during the 4th quarter valued at $16,317,000. Capital World Investors boosted its position in shares of NovoCure by 11.8% in the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after purchasing an additional 507,311 shares in the last quarter. Finally, Northern Trust Corp grew its stake in NovoCure by 39.1% during the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock worth $38,274,000 after buying an additional 360,841 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

NovoCure Trading Down 4.9%

NVCR traded down $0.88 during mid-day trading on Wednesday, hitting $17.26. 319,603 shares of the stock were exchanged, compared to its average volume of 1,169,178. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.92 billion, a PE ratio of -12.33 and a beta of 0.73. The firm's fifty day moving average is $17.88 and its two-hundred day moving average is $21.78. NovoCure Limited has a 1-year low of $14.17 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.16. The business had revenue of $154.99 million during the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. Equities analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVCR shares. StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Wedbush lowered 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. cut their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Piper Sandler lowered their price target on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. One equities 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 stock. Based on data from MarketBeat.com, NovoCure presently has an average rating of "Hold" and a consensus price target 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.