Vontobel Holding Ltd. lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR – Free Report) by 20.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,596 shares of the medical equipment provider’s stock after purchasing an additional 1,278 shares during the quarter. Vontobel Holding Ltd.’s holdings in NovoCure were worth $315,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NVCR. Norges Bank bought a new position in NovoCure in the fourth quarter valued at approximately $71,417,000. BlackRock Inc. increased its stake in NovoCure by 9.5% in the first quarter. BlackRock Inc. now owns 8,324,921 shares of the medical equipment provider’s stock valued at $500,661,000 after acquiring an additional 719,265 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in NovoCure by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,655,686 shares of the medical equipment provider’s stock valued at $159,714,000 after acquiring an additional 487,255 shares during the last quarter. Vanguard Group Inc. increased its stake in NovoCure by 1.6% in the third quarter. Vanguard Group Inc. now owns 8,238,835 shares of the medical equipment provider’s stock valued at $625,986,000 after acquiring an additional 129,096 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in NovoCure in the first quarter valued at approximately $5,696,000. 84.11% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on NVCR shares. Wells Fargo & Company decreased their price objective on shares of NovoCure from $102.00 to $49.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 29th. SVB Leerink assumed coverage on shares of NovoCure in a research report on Friday, August 4th. They issued an “outperform” rating and a $51.00 target price on the stock. SVB Securities assumed coverage on shares of NovoCure in a research report on Friday, August 4th. They issued an “outperform” rating and a $51.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of NovoCure in a research report on Friday, August 4th. Finally, Piper Sandler upgraded shares of NovoCure from a “neutral” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.38.
NovoCure Price Performance
NVCR stock opened at $14.21 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -8.61 and a beta of 0.70. The company has a quick ratio of 6.88, a current ratio of 7.10 and a debt-to-equity ratio of 1.36. NovoCure Limited has a 12-month low of $13.46 and a 12-month high of $120.03. The company’s fifty day simple moving average is $21.64 and its 200 day simple moving average is $43.60.
NovoCure (NASDAQ:NVCR – Get Free Report) last released its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.04). The firm had revenue of $126.05 million during the quarter, compared to analyst estimates of $124.25 million. NovoCure had a negative net margin of 34.35% and a negative return on equity of 40.21%. NovoCure’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, analysts expect that NovoCure Limited will post -2.07 earnings per share for the current 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, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.
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