NovoCure Limited (NASDAQ:NVCR) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lessened its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 39.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,690,441 shares of the medical equipment provider's stock after selling 1,115,692 shares during the period. T. Rowe Price Investment Management Inc. owned 1.56% of NovoCure worth $50,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC raised its holdings in shares of NovoCure by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 65,319 shares of the medical equipment provider's stock valued at $1,947,000 after buying an additional 3,716 shares during the last quarter. Capital World Investors raised its stake in NovoCure by 11.8% during 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 acquiring an additional 507,311 shares during the last quarter. GeoWealth Management LLC acquired a new stake in NovoCure during the 4th quarter worth approximately $27,000. Capital International Investors grew 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 purchasing an additional 951,141 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of NovoCure in the fourth quarter valued at approximately $4,228,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

NVCR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler decreased their price target on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. HC Wainwright reissued a "buy" rating and issued a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Wedbush cut their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.83.

NovoCure Stock Down 3.1 %

Shares of NASDAQ:NVCR traded down $0.56 during trading on Thursday, hitting $17.58. The company's stock had a trading volume of 193,094 shares, compared to its average volume of 1,179,247. The company has a market capitalization of $1.96 billion, a PE ratio of -12.56 and a beta of 0.65. NovoCure Limited has a fifty-two week low of $12.17 and a fifty-two week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock's 50-day moving average price is $18.26 and its two-hundred day moving average price is $21.69.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company had revenue of $154.99 million during the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS. As a group, sell-side analysts expect that NovoCure Limited will post -1.3 EPS 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.