Northern Trust Corp Boosts Holdings in NovoCure Limited (NASDAQ:NVCR)

Northern Trust Corp grew its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,284,350 shares of the medical equipment provider's stock after acquiring an additional 360,841 shares during the quarter. Northern Trust Corp owned about 1.19% of NovoCure worth $38,274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC bought a new stake in NovoCure in the fourth quarter worth about $27,000. Lindbrook Capital LLC boosted its holdings in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after acquiring an additional 1,213 shares during the period. Blue Trust Inc. increased its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after purchasing an additional 781 shares during the period. SBI Securities Co. Ltd. purchased a new stake in NovoCure in the fourth quarter worth $70,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of NovoCure by 57.4% during the fourth 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 own 84.61% of the company's stock.

NovoCure Trading Down 0.3 %

Shares of NASDAQ NVCR opened at $17.38 on Friday. The business has a fifty day moving average price of $17.92 and a 200 day moving average price of $21.72. NovoCure Limited has a 1-year low of $14.17 and a 1-year high of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a market capitalization of $1.94 billion, a P/E ratio of -12.41 and a beta of 0.73.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.16. The firm had revenue of $154.99 million during the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. NovoCure's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.36) EPS. Equities research analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analyst Ratings Changes

NVCR has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Wedbush decreased their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. 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. Piper Sandler decreased their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.

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