NovoCure Limited (NASDAQ:NVCR) Shares Purchased by C WorldWide Group Holding A S

C WorldWide Group Holding A S boosted its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 135.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521,784 shares of the medical equipment provider's stock after buying an additional 300,000 shares during the period. C WorldWide Group Holding A S owned approximately 0.49% of NovoCure worth $7,790,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NVCR. Federated Hermes Inc. grew its stake in NovoCure by 807.8% during the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider's stock worth $9,209,000 after buying an additional 548,852 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NovoCure by 490.6% in 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 purchasing an additional 339,610 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of NovoCure by 826.4% in the 3rd quarter. Quantbot Technologies LP now owns 98,177 shares of the medical equipment provider's stock valued at $1,586,000 after purchasing an additional 87,579 shares in the last quarter. Palo Alto Investors LP boosted its stake in shares of NovoCure by 14.2% in the 3rd quarter. Palo Alto Investors LP now owns 660,275 shares of the medical equipment provider's stock valued at $10,663,000 after purchasing an additional 82,157 shares in the last quarter. Finally, Seven Eight Capital LP boosted its stake in shares of NovoCure by 109.5% in the 3rd quarter. Seven Eight Capital LP now owns 137,721 shares of the medical equipment provider's stock valued at $2,224,000 after purchasing an additional 71,989 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $28.00 price target (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Evercore ISI raised their price target 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. Wedbush restated a "neutral" rating and issued a $21.00 price target on shares of NovoCure in a research note on Wednesday, March 27th. Wells Fargo & Company cut their target price on shares of NovoCure from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 3rd. Finally, HC Wainwright lifted their target price on shares of NovoCure from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, NovoCure has an average rating of "Moderate Buy" and a consensus target price of $31.13.

Insiders Place Their Bets

In other news, EVP Frank X. Leonard sold 1,679 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares of the company's stock, valued at $2,579,836.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the transaction, the chief operating officer now directly owns 252,452 shares in the company, valued at $4,046,805.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,921 shares of company stock worth $127,161. 5.67% of the stock is owned by corporate insiders.

NovoCure Price Performance

NVCR traded up $0.40 during midday trading on Friday, hitting $12.64. The stock had a trading volume of 762,109 shares, compared to its average volume of 1,083,416. The company has a market cap of $1.36 billion, a P/E ratio of -6.48 and a beta of 0.42. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $83.60. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. The business has a fifty day moving average of $14.42 and a 200 day moving average of $13.90.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share 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%. The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. As a group, equities analysts forecast that NovoCure Limited will post -1.78 earnings per share for the current fiscal year.

NovoCure Company 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.