Silvercrest Asset Management Group LLC Decreases Stock Position in NovoCure Limited (NASDAQ:NVCR)

Silvercrest Asset Management Group LLC cut its holdings in NovoCure Limited (NASDAQ:NVCR) by 29.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,307 shares of the medical equipment provider’s stock after selling 147,804 shares during the period. Silvercrest Asset Management Group LLC owned about 0.32% of NovoCure worth $10,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVCR. GeoWealth Management LLC purchased a new stake in shares of NovoCure in the 4th quarter worth about $27,000. Lindbrook Capital LLC boosted its position in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. lifted its holdings in 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in NovoCure in the 4th quarter valued at about $70,000. Finally, Nisa Investment Advisors LLC lifted its holdings in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after purchasing an additional 1,575 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVCR shares. Piper Sandler reduced their target price on shares of 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 shares of NovoCure from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Wedbush reduced their target price 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. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, NovoCure presently has a consensus rating of “Hold” and a consensus price target of $32.83.

NovoCure Trading Up 1.7%

Shares of NVCR stock opened at $17.89 on Friday. The firm has a market cap of $1.99 billion, a P/E ratio of -12.78 and a beta of 0.73. NovoCure Limited has a 1-year low of $14.17 and a 1-year high of $34.13. 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 firm’s 50-day simple moving average is $17.70 and its 200-day simple moving average is $21.79.

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