Capital World Investors Raises Holdings in NovoCure Limited (NASDAQ:NVCR)

Capital World Investors grew its position in NovoCure Limited (NASDAQ:NVCR) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,815,529 shares of the medical equipment provider’s stock after purchasing an additional 507,311 shares during the period. Capital World Investors owned approximately 4.45% of NovoCure worth $143,503,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GeoWealth Management LLC purchased a new stake in NovoCure during the fourth quarter worth approximately $27,000. Lindbrook Capital LLC boosted its position in 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 period. Blue Trust Inc. raised its position 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 purchasing an additional 781 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of NovoCure during the fourth quarter worth about $70,000. Finally, Versant Capital Management Inc boosted its position in shares of NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 880 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NovoCure stock opened at $15.58 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The company has a market cap of $1.71 billion, a P/E ratio of -11.13 and a beta of 0.65. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm’s 50 day simple moving average is $18.95 and its 200-day simple moving average is $21.63.

NovoCure (NASDAQ:NVCR) last issued 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). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. As a group, equities research analysts predict that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price objective on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.17.

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.