LMR Partners LLP Takes Position in NovoCure Limited (NASDAQ:NVCR)

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

Several other institutional investors also recently modified their holdings of NVCR. Deutsche Bank AG raised its position in shares of NovoCure by 20.7% in the 4th quarter. Deutsche Bank AG now owns 194,327 shares of the medical equipment provider's stock valued at $5,791,000 after acquiring an additional 33,293 shares during the period. Cubist Systematic Strategies LLC raised its holdings in NovoCure by 223.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 335,218 shares of the medical equipment provider's stock worth $9,990,000 after purchasing an additional 231,466 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of NovoCure by 27.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock worth $31,852,000 after purchasing an additional 229,689 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NovoCure by 77.7% in the 4th quarter. Ameriprise Financial Inc. now owns 22,883 shares of the medical equipment provider's stock valued at $682,000 after buying an additional 10,007 shares during the period. Finally, Algert Global LLC bought a new stake in shares of NovoCure in the 4th quarter valued at $2,064,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Down 1.4%

NVCR stock traded down $0.25 during midday trading on Monday, hitting $17.64. The company's stock had a trading volume of 80,837 shares, compared to its average volume of 897,333. The company's fifty day moving average price is $17.70 and its 200 day moving average price is $21.84. 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 twelve month low of $14.17 and a twelve month high of $34.13. The stock has a market capitalization of $1.97 billion, a P/E ratio of -12.60 and a beta of 0.73.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results 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. The business had revenue of $154.99 million for 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%. NovoCure's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.36) earnings per share. As a group, equities research analysts predict that NovoCure Limited will post -1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVCR shares. Wedbush decreased their target price on 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. lowered their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. StockNews.com lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Piper Sandler dropped their price objective 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. 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 company's stock. According to MarketBeat.com, NovoCure presently has a consensus rating of "Hold" and an average target price of $32.83.

About NovoCure

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.