Bank of Montreal Can Acquires New Shares in NovoCure Limited (NASDAQ:NVCR)

Bank of Montreal Can purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,183 shares of the medical equipment provider’s stock, valued at approximately $244,000.

Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC lifted its stake in NovoCure by 4.6% in the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock valued at $871,000 after acquiring an additional 2,465 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after purchasing an additional 124,793 shares in the last quarter. Versant Capital Management Inc lifted its stake 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. Nisa Investment Advisors LLC boosted its holdings in NovoCure by 57.4% in 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, Blue Trust Inc. increased its position in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVCR shares. Wedbush decreased their price target on 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 reaffirmed a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. 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 report on Wednesday. Finally, StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a report on Friday. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.83.

NovoCure Price Performance

Shares of NovoCure stock opened at $18.55 on Friday. The firm has a fifty day moving average price of $18.55 and a two-hundred day moving average price of $21.60. NovoCure Limited has a fifty-two week low of $11.88 and a fifty-two week high of $34.13. 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 $2.07 billion, a PE ratio of -13.25 and a beta of 0.65.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Analysts expect that NovoCure Limited will post -1.3 EPS 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.