LPL Financial LLC Purchases New Holdings in NovoCure Limited (NASDAQ:NVCR)

LPL Financial LLC bought a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,861 shares of the medical equipment provider's stock, valued at approximately $830,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC lifted 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 worth $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its holdings 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 acquiring an additional 781 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in NovoCure during the fourth quarter valued at $70,000. Versant Capital Management Inc grew its stake in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position 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 worth $129,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Stock Performance

Shares of NASDAQ NVCR traded down $0.05 during trading hours 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's 50-day moving average price is $18.48 and its 200-day moving average price is $21.63. NovoCure Limited has a 1-year low of $12.01 and a 1-year high of $34.13. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.21 and a beta of 0.65. 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 (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 analysts' consensus estimates of ($0.47) by $0.16. The company had revenue of $154.99 million during 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%. On average, sell-side analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Piper Sandler cut their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective 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 report on Friday. One 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. According to MarketBeat, the stock has an average rating of "Hold" and an average 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.