Price T Rowe Associates Inc. MD Has $50.18 Million Stake in NovoCure Limited (NASDAQ:NVCR)

Price T Rowe Associates Inc. MD reduced its holdings in NovoCure Limited (NASDAQ:NVCR) by 27.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,683,818 shares of the medical equipment provider’s stock after selling 638,378 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in NovoCure were worth $50,179,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Capital International Investors grew its holdings in NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock valued at $264,442,000 after buying an additional 951,141 shares during the last quarter. Capital World Investors grew its stake in shares of NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock worth $143,503,000 after acquiring an additional 507,311 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in NovoCure by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider’s stock worth $24,919,000 after acquiring an additional 11,771 shares during the period. Granite Investment Partners LLC bought a new position in NovoCure during the fourth quarter worth $20,464,000. Finally, C WorldWide Group Holding A S raised its stake in NovoCure by 19.2% during the 4th quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock valued at $18,529,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush dropped their price objective on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their price objective on NovoCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NovoCure presently has an average rating of “Hold” and a consensus target price of $32.83.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $18.29 on Wednesday. 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 business’s fifty day moving average price is $18.34 and its two-hundred day moving average price is $21.72. NovoCure Limited has a fifty-two week low of $12.17 and a fifty-two week high of $34.13. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -13.06 and a beta of 0.65.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.