Thrivent Financial for Lutherans Reduces Position in NovoCure Limited (NASDAQ:NVCR)

Thrivent Financial for Lutherans lowered its holdings in NovoCure Limited (NASDAQ:NVCR) by 28.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,003 shares of the medical equipment provider’s stock after selling 10,492 shares during the period. Thrivent Financial for Lutherans’ holdings in NovoCure were worth $775,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after buying an additional 124,793 shares during the last quarter. Intech Investment Management LLC bought a new position in NovoCure during the 3rd quarter valued at $346,000. Geode Capital Management LLC boosted its stake in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares during the last quarter. Principal Financial Group Inc. acquired a new position in NovoCure during the 4th quarter worth $272,000. Finally, MetLife Investment Management LLC increased its position in shares of NovoCure by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 61,603 shares of the medical equipment provider’s stock worth $963,000 after purchasing an additional 34,711 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $17.94 on Thursday. 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 has a market capitalization of $1.97 billion, a PE ratio of -12.81 and a beta of 0.63. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The business’s fifty day moving average price is $21.19 and its two-hundred day moving average price is $21.65.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, research analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Analysts Set New Price Targets

NVCR has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Finally, Wedbush restated a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.80.

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.