Capital International Investors Grows Position in NovoCure Limited (NASDAQ:NVCR)

Capital International Investors raised its position in NovoCure Limited (NASDAQ:NVCR) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,873,902 shares of the medical equipment provider’s stock after buying an additional 951,141 shares during the quarter. Capital International Investors owned approximately 8.20% of NovoCure worth $264,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Franklin Resources Inc. raised its position 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of NovoCure by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after buying an additional 29,871 shares during the period. Principal Financial Group Inc. purchased a new position in shares of NovoCure during the fourth quarter worth about $272,000. Versant Capital Management Inc increased its position in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in NovoCure by 362.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider’s stock valued at $2,104,000 after acquiring an additional 55,334 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVCR. Wedbush decreased their price target on NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NovoCure presently has a consensus rating of “Moderate Buy” and an average target price of $34.17.

NovoCure Stock Down 1.6 %

NVCR stock opened at $15.58 on Friday. 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’s 50-day moving average price is $18.95 and its 200 day moving average price is $21.54. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a market cap of $1.71 billion, a P/E ratio of -11.13 and a beta of 0.65.

NovoCure (NASDAQ:NVCR) last announced 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 firm had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. On average, research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal 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.