F M Investments LLC Takes Position in NovoCure Limited (NASDAQ:NVCR)

F M Investments LLC purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,100 shares of the medical equipment provider’s stock, valued at approximately $957,000.

Several other institutional investors have also made changes to their positions in NVCR. Emerald Advisers LLC purchased a new stake in NovoCure in the 4th quarter worth approximately $16,317,000. Franklin Resources Inc. increased its stake in shares of NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after acquiring an additional 124,793 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in shares of NovoCure during the fourth quarter worth $3,272,000. C WorldWide Group Holding A S boosted its position in NovoCure by 19.2% during the fourth quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock valued at $18,529,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Invesco Ltd. grew its stake in NovoCure by 72.6% in the fourth quarter. Invesco Ltd. now owns 189,474 shares of the medical equipment provider’s stock valued at $5,646,000 after purchasing an additional 79,698 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVCR. JPMorgan Chase & Co. cut their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Piper Sandler raised their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.50.

NovoCure Price Performance

Shares of NovoCure stock opened at $16.50 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $19.59 and a 200-day simple moving average of $21.56. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.79 and a beta of 0.65. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, sell-side analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

About NovoCure

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.