NovoCure Limited (NASDAQ:NVCR) Shares Sold by PDT Partners LLC

PDT Partners LLC lessened its holdings in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,232 shares of the medical equipment provider's stock after selling 31,851 shares during the quarter. PDT Partners LLC owned 0.07% of NovoCure worth $2,391,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after acquiring an additional 951,141 shares during the period. Capital World Investors increased its holdings in NovoCure by 11.8% in the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after purchasing an additional 507,311 shares in the last quarter. Northern Trust Corp raised its position in NovoCure by 39.1% in the fourth quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock valued at $38,274,000 after purchasing an additional 360,841 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of NovoCure by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock worth $24,919,000 after purchasing an additional 11,771 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new stake in shares of NovoCure in the fourth quarter worth about $20,464,000. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Up 1.1 %

NASDAQ NVCR traded up $0.20 during trading hours on Friday, reaching $18.15. 728,550 shares of the company traded hands, compared to its average volume of 1,178,014. The stock has a market capitalization of $2.02 billion, a PE ratio of -12.96 and a beta of 0.65. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 12 month low of $14.17 and a 12 month high of $34.13. The company has a 50 day moving average of $18.14 and a two-hundred day moving average of $21.71.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results 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. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. During the same quarter last year, the company posted ($0.36) earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on NVCR. JPMorgan Chase & Co. reduced their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Piper Sandler decreased their price objective on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.83.

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.