NovoCure Limited (NASDAQ:NVCR) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 72.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 189,474 shares of the medical equipment provider's stock after acquiring an additional 79,698 shares during the period. Invesco Ltd. owned approximately 0.18% of NovoCure worth $5,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of NovoCure by 70.7% during the 4th 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 during the last quarter. Versant Capital Management Inc raised its stake in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after acquiring an additional 880 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 1,213 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after purchasing an additional 1,575 shares during the last quarter. Finally, KBC Group NV raised its position in NovoCure by 65.1% in the fourth quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider's stock valued at $152,000 after purchasing an additional 2,008 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Stock Down 1.8 %

Shares of NVCR traded down $0.33 during midday trading on Thursday, reaching $17.81. The stock had a trading volume of 97,670 shares, compared to its average volume of 1,178,864. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The company's fifty day simple moving average is $18.26 and its two-hundred day simple moving average is $21.69. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -12.74 and a beta of 0.65. NovoCure Limited has a 1-year low of $12.17 and a 1-year high of $34.13.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased 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. 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 report on Wednesday, April 16th. Piper Sandler reduced their target price on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. HC Wainwright restated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Finally, StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, NovoCure has a consensus rating of "Hold" and a consensus 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.