NovoCure Limited (NASDAQ:NVCR) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC increased its position in shares of NovoCure Limited (NASDAQ:NVCR) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 65,319 shares of the medical equipment provider’s stock after acquiring an additional 3,716 shares during the quarter. MetLife Investment Management LLC’s holdings in NovoCure were worth $1,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVCR. Capital International Investors grew its stake in shares of NovoCure by 12.0% during the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after purchasing an additional 951,141 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of NovoCure during the fourth quarter worth $20,464,000. Emerald Advisers LLC acquired a new position in shares of NovoCure during the fourth quarter worth $16,317,000. Capital World Investors grew its stake in shares of NovoCure by 11.8% during the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock worth $143,503,000 after purchasing an additional 507,311 shares in the last quarter. Finally, EAM Investors LLC acquired a new position in shares of NovoCure during the fourth quarter worth $4,228,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NVCR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush decreased their price objective on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Piper Sandler decreased their price objective on shares of NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.83.

NovoCure Price Performance

Shares of NVCR opened at $18.31 on Tuesday. NovoCure Limited has a fifty-two week low of $12.17 and a fifty-two week high of $34.13. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -13.08 and a beta of 0.65. The firm has a 50-day simple moving average of $18.41 and a 200-day simple moving average of $21.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

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.