NovoCure Limited (NASDAQ:NVCR) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in NovoCure Limited (NASDAQ:NVCR) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400,182 shares of the medical equipment provider’s stock after selling 5,075 shares during the period. Geode Capital Management LLC owned about 2.22% of NovoCure worth $71,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 781 shares in the last quarter. Versant Capital Management Inc increased its position in shares of 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 during the last quarter. Lindbrook Capital LLC lifted its position in shares of NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of NovoCure by 57.4% during the fourth 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 in the last quarter. Finally, KBC Group NV increased its holdings in NovoCure by 65.1% in the fourth quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 2,008 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Up 2.6 %

NVCR stock opened at $16.50 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -11.79 and a beta of 0.65. The company has a fifty day moving average price of $19.59 and a 200 day moving average price of $21.56. 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 12 month low of $11.70 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR) last announced 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 analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Sell-side analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVCR. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler boosted their price objective 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. Finally, StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, NovoCure has an average rating of “Hold” and a consensus price target of $34.50.

NovoCure 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.