Tidal Investments LLC lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR – Free Report) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 55,756 shares of the medical equipment provider’s stock after buying an additional 2,465 shares during the period. Tidal Investments LLC’s holdings in NovoCure were worth $871,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in NovoCure in the third quarter worth $346,000. Federated Hermes Inc. lifted its position in shares of NovoCure by 5.8% in the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider’s stock worth $12,726,000 after buying an additional 40,870 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NovoCure by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider’s stock worth $7,194,000 after acquiring an additional 152,185 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of NovoCure by 171.9% during the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after acquiring an additional 480,600 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of NovoCure by 234.2% during the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock valued at $7,391,000 after acquiring an additional 302,351 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on NVCR. Wedbush reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and issued a $38.00 price objective (up from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Piper Sandler boosted their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.
NovoCure Price Performance
NASDAQ:NVCR opened at $30.80 on Friday. 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 one year low of $11.70 and a one year high of $34.13. The company has a fifty day moving average price of $21.12 and a 200 day moving average price of $19.23. The stock has a market cap of $3.33 billion, a P/E ratio of -22.00 and a beta of 0.75.
NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts anticipate that NovoCure Limited will post -1.32 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, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.
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