TIAA Trust National Association Makes New $239,000 Investment in NovoCure Limited (NASDAQ:NVCR)

TIAA Trust National Association bought a new stake in NovoCure Limited (NASDAQ:NVCR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,035 shares of the medical equipment provider’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVCR. Brooklyn Investment Group bought a new position in NovoCure in the third quarter valued at about $45,000. Lindbrook Capital LLC lifted its position in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares during the period. Blue Trust Inc. boosted its stake in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of NovoCure in the 4th quarter valued at about $70,000. Finally, Versant Capital Management Inc grew its position in shares of NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 880 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVCR shares. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Piper Sandler increased their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Wedbush restated a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Stock Down 0.6 %

NASDAQ:NVCR opened at $18.86 on Friday. The stock has a 50-day moving average price of $21.72 and a two-hundred day moving average price of $21.61. NovoCure Limited has a 1 year low of $11.70 and a 1 year high of $34.13. 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 stock has a market cap of $2.07 billion, a price-to-earnings ratio of -13.47 and a beta of 0.63.

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

NovoCure 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.