Federated Hermes Inc. Has $9.21 Million Position in NovoCure Limited (NASDAQ:NVCR)

Federated Hermes Inc. boosted its holdings in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 807.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 616,792 shares of the medical equipment provider's stock after purchasing an additional 548,852 shares during the quarter. Federated Hermes Inc. owned approximately 0.58% of NovoCure worth $9,209,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. acquired a new stake in shares of NovoCure in the third quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. increased its stake in NovoCure by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider's stock worth $44,000 after acquiring an additional 1,347 shares during the last quarter. CWM LLC increased its stake in NovoCure by 127.9% during the third quarter. CWM LLC now owns 3,891 shares of the medical equipment provider's stock worth $63,000 after acquiring an additional 2,184 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in NovoCure during the third quarter worth $74,000. Finally, Acadian Asset Management LLC acquired a new stake in NovoCure during the third quarter worth $85,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on NovoCure from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. HC Wainwright raised their price target on NovoCure from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 27th. Wedbush restated a "neutral" rating and set a $21.00 price target on shares of NovoCure in a research report on Wednesday, March 27th. Finally, Evercore ISI raised their price target on NovoCure from $14.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NovoCure currently has a consensus rating of "Moderate Buy" and an average target price of $31.13.

NovoCure Stock Down 0.9 %

NASDAQ:NVCR traded down $0.11 during midday trading on Thursday, reaching $12.23. The company had a trading volume of 1,152,123 shares, compared to its average volume of 1,344,545. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.27 and a beta of 0.42. The stock's fifty day simple moving average is $14.49 and its 200-day simple moving average is $13.92. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $83.60. The company has a current ratio of 5.78, a quick ratio of 5.56 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, beating analysts' consensus estimates of ($0.53) by $0.08. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. NovoCure's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted ($0.36) earnings per share. On average, sell-side analysts anticipate that NovoCure Limited will post -1.78 earnings per share for the current fiscal year.

Insider Activity at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares of the company's stock, valued at approximately $2,624,638.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure stock in a transaction dated Friday, March 1st. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the sale, the executive vice president now directly owns 162,617 shares of the company's stock, valued at $2,624,638.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,921 shares of company stock worth $127,161. Company insiders own 5.67% of the company's stock.

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.