Bridgewater Associates LP Reduces Stake in NovoCure Limited (NASDAQ:NVCR)

Bridgewater Associates LP cut its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 71.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,119 shares of the medical equipment provider's stock after selling 28,264 shares during the period. Bridgewater Associates LP's holdings in NovoCure were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVCR. Summit Investment Advisors Inc. grew its holdings in NovoCure by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock worth $332,000 after purchasing an additional 708 shares during the period. Blue Trust Inc. raised its holdings in NovoCure by 70.7% in the 4th 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. Versant Capital Management Inc lifted its position in shares of NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after buying an additional 880 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 1,213 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake 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 buying an additional 1,575 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NVCR shares. Piper Sandler decreased their price objective on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday. HC Wainwright restated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Wedbush dropped 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $32.83.

NovoCure Trading Down 0.4 %

Shares of NASDAQ NVCR traded down $0.08 during trading hours on Friday, reaching $18.48. The stock had a trading volume of 262,824 shares, compared to its average volume of 1,181,011. NovoCure Limited has a 52-week low of $11.88 and a 52-week high of $34.13. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The business's fifty day moving average price is $18.55 and its two-hundred day moving average price is $21.60. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -13.20 and a beta of 0.65.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $154.99 million during the quarter, compared to analysts' expectations of $147.57 million. Analysts expect that NovoCure Limited will post -1.3 EPS 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.