Nisa Investment Advisors LLC Grows Position in NovoCure Limited (NASDAQ:NVCR)

Nisa Investment Advisors LLC boosted its position in shares of NovoCure Limited (NASDAQ:NVCR) by 57.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,321 shares of the medical equipment provider’s stock after purchasing an additional 1,575 shares during the period. Nisa Investment Advisors LLC’s holdings in NovoCure were worth $129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVCR. Nordwand Advisors LLC grew its position in NovoCure by 100.0% in the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of NovoCure by 234.2% in the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock worth $7,391,000 after purchasing an additional 302,351 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after purchasing an additional 124,793 shares during the last quarter. Edgestream Partners L.P. purchased a new position in NovoCure in the 3rd quarter worth about $1,812,000. Finally, FMR LLC lifted its holdings in 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 buying an additional 90,422 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on NVCR shares. Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, Piper Sandler increased their price target on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, NovoCure currently has an average rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Stock Performance

Shares of NVCR stock opened at $25.51 on Friday. The company’s 50 day moving average is $27.51 and its 200 day moving average is $21.03. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -18.22 and a beta of 0.64. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period last year, the business posted ($0.46) EPS. The business’s revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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.