21,600 Shares in NovoCure Limited (NASDAQ:NVCR) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in NovoCure Limited (NASDAQ:NVCR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 21,600 shares of the medical equipment provider’s stock, valued at approximately $644,000.

A number of other hedge funds have also modified their holdings of the stock. Blue Trust Inc. grew 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 acquiring an additional 781 shares during the period. Versant Capital Management Inc grew its holdings 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 worth $100,000 after purchasing an additional 880 shares during the last quarter. Lindbrook Capital LLC increased 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 in the last quarter. Nisa Investment Advisors LLC increased its position 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 in the last quarter. Finally, KBC Group NV lifted its holdings in NovoCure by 65.1% during the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 2,008 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and set a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Finally, StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.80.

NovoCure Trading Down 1.7 %

NVCR stock opened at $17.52 on Wednesday. The business has a fifty day moving average of $21.37 and a 200-day moving average of $21.67. The company has a market cap of $1.93 billion, a P/E ratio of -12.51 and a beta of 0.63. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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

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.