Capital International Investors Increases Stock Position in NovoCure Limited (NASDAQ:NVCR)

Capital International Investors lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 12.0% in the fourth quarter, HoldingsChannel reports. The firm owned 8,873,902 shares of the medical equipment provider’s stock after acquiring an additional 951,141 shares during the period. Capital International Investors owned approximately 0.08% of NovoCure worth $264,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVCR. Lindbrook Capital LLC raised its holdings in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 1,213 shares during the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 781 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in NovoCure in the 4th quarter valued at about $70,000. Versant Capital Management Inc lifted its holdings in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake 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 worth $129,000 after purchasing an additional 1,575 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Trading Down 1.6 %

NVCR stock opened at $15.58 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -11.13 and a beta of 0.65. The business has a fifty day simple moving average of $18.95 and a 200-day simple moving average of $21.54. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13.

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

Analysts Set New Price Targets

NVCR has been the topic of several recent analyst reports. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Finally, Wedbush reduced their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, NovoCure presently has an average rating of “Moderate Buy” and an average price target of $34.17.

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.