Proficio Capital Partners LLC Takes Position in NovoCure Limited (NASDAQ:NVCR)

Proficio Capital Partners LLC bought a new stake in NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,158 shares of the medical equipment provider’s stock, valued at approximately $899,000.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. lifted 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 valued at $2,904,000 after purchasing an additional 124,793 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of NovoCure in the third quarter valued at approximately $346,000. Geode Capital Management LLC lifted its holdings in shares of NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after purchasing an additional 29,871 shares in the last quarter. FMR LLC lifted its holdings in shares of NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after purchasing an additional 90,422 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of NovoCure by 129.1% in the third quarter. MetLife Investment Management LLC now owns 61,603 shares of the medical equipment provider’s stock valued at $963,000 after purchasing an additional 34,711 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Piper Sandler lifted their price target on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Finally, Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NovoCure presently has an average rating of “Hold” and a consensus target price of $32.67.

NovoCure Stock Performance

NASDAQ:NVCR opened at $20.18 on Friday. 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 business has a fifty day simple moving average of $24.37 and a two-hundred day simple moving average of $21.47. NovoCure Limited has a 1 year low of $11.70 and a 1 year high of $34.13. The company has a market capitalization of $2.22 billion, a P/E ratio of -14.41 and a beta of 0.63.

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