Legal & General Group Plc cut its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,758 shares of the medical equipment provider's stock after selling 26,654 shares during the period. Legal & General Group Plc owned about 0.15% of NovoCure worth $4,701,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Lindbrook Capital LLC raised its position in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted 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 worth $56,000 after purchasing an additional 781 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $70,000. Versant Capital Management Inc raised its position in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after purchasing an additional 880 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings 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 worth $129,000 after buying an additional 1,575 shares in the last quarter. Institutional investors own 84.61% of the company's stock.
Analysts Set New Price Targets
NVCR has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. StockNews.com cut shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday. 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 note on Wednesday. JPMorgan Chase & Co. cut their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.83.
Check Out Our Latest Stock Analysis on NVCR
NovoCure Stock Down 0.3 %
Shares of NVCR traded down $0.05 during mid-day trading on Friday, hitting $18.50. 1,012,047 shares of the company's stock were exchanged, compared to its average volume of 1,184,047. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a 52 week low of $12.01 and a 52 week high of $34.13. The company has a market cap of $2.06 billion, a PE ratio of -13.21 and a beta of 0.65. The company has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $21.63.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued 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 firm had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, research analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.
NovoCure Company Profile
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Free Report)
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.
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