Capital International Investors Increases Holdings in NovoCure Limited (NASDAQ:NVCR)

Capital International Investors raised its stake in NovoCure Limited (NASDAQ:NVCR) by 0.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,864,092 shares of the medical equipment provider’s stock after acquiring an additional 2,221 shares during the period. Capital International Investors owned approximately 8.24% of NovoCure worth $138,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVCR. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of NovoCure in the first quarter worth approximately $113,000. Vanguard Group Inc. boosted its stake in NovoCure by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after purchasing an additional 264,883 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of NovoCure by 7.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,070 shares of the medical equipment provider’s stock worth $1,845,000 after purchasing an additional 7,977 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of NovoCure by 247.3% in the first quarter. Russell Investments Group Ltd. now owns 130,282 shares of the medical equipment provider’s stock worth $2,036,000 after purchasing an additional 92,771 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of NovoCure during the first quarter valued at $134,000. 84.61% of the stock is currently owned by institutional investors.

NovoCure Price Performance

Shares of NASDAQ:NVCR traded up $0.37 during midday trading on Friday, hitting $19.02. The company had a trading volume of 1,236,980 shares, compared to its average volume of 1,881,869. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $41.51. The company has a fifty day moving average of $19.84 and a two-hundred day moving average of $16.53. The company has a current ratio of 6.26, a quick ratio of 5.99 and a debt-to-equity ratio of 1.59.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.37% and a negative net margin of 30.67%. The business had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $135.83 million. During the same quarter in the prior year, the business posted ($0.54) earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, analysts anticipate that NovoCure Limited will post -1.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Evercore ISI lifted their price target on shares of NovoCure from $14.50 to $20.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research report on Thursday. Wells Fargo & Company cut their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday. Finally, HC Wainwright increased their price target on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.88.

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.