Connor Clark & Lunn Investment Management Ltd. Has $13.05 Million Stake in NovoCure Limited (NASDAQ:NVCR)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,772 shares of the medical equipment provider’s stock after purchasing an additional 11,509 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of NovoCure worth $13,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVCR. Brooklyn Investment Group acquired a new stake in shares of NovoCure in the 3rd quarter valued at $45,000. Lindbrook Capital LLC increased its stake in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. increased its stake in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. Venturi Wealth Management LLC increased its stake in shares of NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 1,354 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of NovoCure in the 4th quarter valued at $70,000. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Performance

NVCR stock opened at $19.49 on Friday. The business’s 50-day moving average price is $23.41 and its two-hundred day moving average price is $21.54. 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 market cap of $2.14 billion, a PE ratio of -13.92 and a beta of 0.63. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The business had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. As a group, research analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com cut NovoCure from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

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.