Teacher Retirement System of Texas Invests $1.77 Million in NovoCure Limited (NASDAQ:NVCR)

Teacher Retirement System of Texas acquired a new stake in shares of NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,252 shares of the medical equipment provider’s stock, valued at approximately $1,766,000. Teacher Retirement System of Texas owned about 0.05% of NovoCure as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVCR. Franklin Resources Inc. boosted its stake 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 worth $2,904,000 after purchasing an additional 124,793 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in NovoCure during the third quarter worth approximately $1,812,000. C WorldWide Group Holding A S grew its stake in NovoCure by 19.2% in the 4th quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock worth $18,529,000 after acquiring an additional 100,000 shares during the period. FMR LLC raised its holdings in NovoCure by 0.6% in the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after acquiring an additional 90,422 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NovoCure by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after purchasing an additional 84,606 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Up 2.9 %

Shares of NovoCure stock opened at $18.97 on Friday. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -13.55 and a beta of 0.63. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $21.87 and a 200 day moving average price of $21.60.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.80.

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.