NovoCure Limited (NASDAQ:NVCR) Stock Holdings Increased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its position in NovoCure Limited (NASDAQ:NVCR) by 305.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 475,226 shares of the medical equipment provider’s stock after buying an additional 358,062 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in NovoCure were worth $7,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in NovoCure by 351.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,363 shares of the medical equipment provider’s stock valued at $185,000 after acquiring an additional 9,624 shares during the period. Taylor Frigon Capital Management LLC lifted its stake in NovoCure by 5.9% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 96,857 shares of the medical equipment provider’s stock valued at $1,446,000 after buying an additional 5,422 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NovoCure by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,335 shares of the medical equipment provider’s stock valued at $348,000 after acquiring an additional 4,982 shares during the period. Federated Hermes Inc. grew its position in shares of NovoCure by 807.8% during the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock worth $9,209,000 after acquiring an additional 548,852 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new stake in NovoCure in the 4th quarter valued at about $731,000. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

NVCR traded up $2.54 during trading on Tuesday, reaching $23.35. The stock had a trading volume of 2,954,345 shares, compared to its average volume of 1,420,504. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -12.90 and a beta of 0.70. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. NovoCure Limited has a 1-year low of $10.87 and a 1-year high of $35.10. The stock has a 50 day moving average of $19.77 and a two-hundred day moving average of $16.61.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The company had revenue of $150.40 million during the quarter, compared to the consensus estimate of $135.83 million. During the same quarter in the prior year, the firm earned ($0.54) EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that NovoCure Limited will post -1.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on NVCR. Wedbush restated an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. Evercore ISI raised their price target on NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, HC Wainwright upped their price target on shares of NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.88.

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.