Focus Partners Wealth Sells 2,624 Shares of NovoCure Limited (NASDAQ:NVCR)

Focus Partners Wealth lessened its position in NovoCure Limited (NASDAQ:NVCR) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,872 shares of the medical equipment provider’s stock after selling 2,624 shares during the period. Focus Partners Wealth owned approximately 0.09% of NovoCure worth $2,768,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GeoWealth Management LLC bought a new stake in NovoCure in the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC increased its stake in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares in the last quarter. Blue Trust Inc. increased its stake in NovoCure by 70.7% in the fourth 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. bought a new stake in NovoCure in the fourth quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC increased its stake in NovoCure by 57.4% in the fourth 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. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler lowered their target price on shares of NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Finally, Wedbush lowered their price objective on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.83.

NovoCure Stock Up 2.9%

NovoCure stock opened at $17.59 on Friday. The company has a market cap of $1.96 billion, a P/E ratio of -12.56 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 fifty day simple moving average of $17.77 and a 200 day simple moving average of $21.75. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. The business had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share. Research analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal 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.