The Manufacturers Life Insurance Company Has $4.55 Million Stake in NovoCure Limited (NASDAQ:NVCR)

The Manufacturers Life Insurance Company reduced its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,602 shares of the medical equipment provider's stock after selling 49,425 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of NovoCure worth $4,548,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NVCR. GeoWealth Management LLC acquired a new position in NovoCure in the 4th quarter worth about $27,000. Lindbrook Capital LLC raised its position in NovoCure by 189.2% during the fourth 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 in the last quarter. Blue Trust Inc. grew its position 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 acquiring an additional 781 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NovoCure during the 4th quarter worth $70,000. Finally, Nisa Investment Advisors LLC raised 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. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NVCR traded down $0.06 on Friday, hitting $17.38. The company's stock had a trading volume of 1,001,106 shares, compared to its average volume of 1,174,812. The company has a 50 day moving average price of $17.92 and a 200 day moving average price of $21.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. The company has a market capitalization of $1.94 billion, a PE ratio of -12.41 and a beta of 0.73.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. During the same period in the prior year, the business earned ($0.36) earnings per share. NovoCure's quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.