Baillie Gifford & Co. lowered its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,840,141 shares of the medical equipment provider's stock after selling 1,974,073 shares during the period. Baillie Gifford & Co. owned approximately 4.53% of NovoCure worth $72,263,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in NovoCure during the 4th quarter valued at approximately $71,417,000. BlackRock Inc. lifted its stake in NovoCure by 9.5% during the 1st quarter. BlackRock Inc. now owns 8,324,921 shares of the medical equipment provider's stock valued at $500,661,000 after acquiring an additional 719,265 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NovoCure by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,655,686 shares of the medical equipment provider's stock valued at $159,714,000 after acquiring an additional 487,255 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in NovoCure by 490.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider's stock valued at $6,603,000 after acquiring an additional 339,610 shares during the period. Finally, Morgan Stanley lifted its stake in NovoCure by 34.4% during the 3rd quarter. Morgan Stanley now owns 1,089,620 shares of the medical equipment provider's stock valued at $17,597,000 after acquiring an additional 279,070 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.
Insider Activity at NovoCure
In related news, EVP Frank X. Leonard sold 1,679 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares of the company's stock, valued at $2,579,836.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Frank X. Leonard sold 1,679 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares of the company's stock, valued at $2,579,836.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the completion of the sale, the chief operating officer now directly owns 252,452 shares of the company's stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,921 shares of company stock valued at $127,161. 5.67% of the stock is owned by company insiders.
NovoCure Price Performance
Shares of NovoCure stock traded down $0.26 during trading hours on Wednesday, reaching $14.62. 953,715 shares of the company's stock were exchanged, compared to its average volume of 1,391,536. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $83.60. The company has a market capitalization of $1.57 billion, a P/E ratio of -7.43 and a beta of 0.42. The business has a fifty day moving average of $15.03 and a two-hundred day moving average of $14.16. The company has a quick ratio of 5.56, a current ratio of 5.78 and a debt-to-equity ratio of 1.57.
NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The business had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts predict that NovoCure Limited will post -1.78 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NVCR has been the subject of several analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $28.00 target price (up from $25.00) on shares of NovoCure in a research note on Wednesday. HC Wainwright boosted their target price on shares of NovoCure from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. Wedbush reiterated a "neutral" rating and issued a $21.00 target price on shares of NovoCure in a research note on Wednesday, March 27th. Evercore ISI boosted their target price on shares of NovoCure from $14.00 to $15.00 and gave the company an "in-line" rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of NovoCure from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.13.
View Our Latest Analysis on NVCR
About NovoCure
(
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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