Quantinno Capital Management LP Has $8.78 Million Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Quantinno Capital Management LP raised its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,639 shares of the medical equipment provider's stock after buying an additional 43,108 shares during the quarter. Quantinno Capital Management LP owned 0.27% of NovoCure worth $8,780,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in NovoCure in the fourth quarter worth about $27,000. Lindbrook Capital LLC increased its holdings 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 acquiring an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its position in shares of NovoCure by 70.7% during 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. bought a new position in shares of NovoCure during the 4th quarter valued at about $70,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of NovoCure by 57.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVCR. JPMorgan Chase & Co. cut 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. StockNews.com cut shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Piper Sandler lowered their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Wedbush dropped their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.83.

NovoCure Stock Down 1.3%

Shares of NVCR stock traded down $0.24 during trading on Wednesday, reaching $17.96. The company's stock had a trading volume of 444,840 shares, compared to its average volume of 1,146,663. NovoCure Limited has a one year low of $14.17 and a one year high of $34.13. The business has a fifty day moving average price of $17.61 and a 200-day moving average price of $21.83. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -12.83 and a beta of 0.73. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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. The firm had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.36) EPS. Analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

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.