30,158 Shares in NovoCure Limited (NASDAQ:NVCR) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 30,158 shares of the medical equipment provider’s stock, valued at approximately $899,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVCR. Franklin Resources Inc. boosted its holdings in NovoCure by 222.6% in 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. Intech Investment Management LLC purchased a new stake in NovoCure in the 3rd quarter valued at approximately $346,000. Geode Capital Management LLC lifted its position in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of NovoCure during the 4th quarter valued at approximately $272,000. Finally, FMR LLC lifted its position in shares of NovoCure by 0.6% during 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 period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NVCR has been the subject of a number of research reports. StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday. Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Stock Up 0.8 %

Shares of NovoCure stock opened at $19.33 on Friday. The business has a 50-day moving average of $22.47 and a 200-day moving average of $21.54. 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 capitalization of $2.12 billion, a PE ratio of -13.81 and a beta of 0.63. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13.

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