LMR Partners LLP Takes $981,000 Position in NovoCure Limited (NASDAQ:NVCR)

LMR Partners LLP acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 32,914 shares of the medical equipment provider's stock, valued at approximately $981,000.

Several other institutional investors also recently bought and sold shares of NVCR. GeoWealth Management LLC acquired a new stake in NovoCure during the 4th quarter worth about $27,000. Lindbrook Capital LLC grew its position in shares of NovoCure by 189.2% in the fourth 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 in the last quarter. Blue Trust Inc. lifted its stake in 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. acquired a new position in NovoCure during the fourth quarter worth $70,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of NovoCure by 57.4% in the fourth 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. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Price Performance

Shares of NovoCure stock traded up $0.30 during trading on Friday, hitting $17.89. 725,408 shares of the company were exchanged, compared to its average volume of 1,155,808. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -12.78 and a beta of 0.73. The firm has a 50 day moving average price of $17.70 and a 200 day moving average price of $21.76.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued 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 firm had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same period in the previous year, the firm posted ($0.36) EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVCR shares. JPMorgan Chase & Co. dropped their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Piper Sandler reduced their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wedbush reduced their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NovoCure currently has an average 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.