NovoCure Limited (NASDAQ:NVCR) Stake Cut by Two Sigma Investments LP

Two Sigma Investments LP cut its position in shares of NovoCure Limited (NASDAQ:NVCR) by 24.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 561,120 shares of the medical equipment provider’s stock after selling 178,834 shares during the quarter. Two Sigma Investments LP’s holdings in NovoCure were worth $16,721,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in NovoCure by 12.0% in the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock valued at $264,442,000 after buying an additional 951,141 shares during the last quarter. Capital World Investors lifted its stake in NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock valued at $143,503,000 after buying an additional 507,311 shares during the last quarter. Northern Trust Corp lifted its stake in NovoCure by 39.1% in the fourth quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider’s stock valued at $38,274,000 after buying an additional 360,841 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in NovoCure by 27.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider’s stock valued at $31,852,000 after buying an additional 229,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in NovoCure by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider’s stock valued at $24,919,000 after buying an additional 11,771 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVCR shares. JPMorgan Chase & Co. cut their target price on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Wall Street Zen cut NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler cut their target price on NovoCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.83.

NovoCure Price Performance

Shares of NVCR opened at $18.11 on Friday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -12.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure Limited has a one year low of $14.17 and a one year high of $34.13. The stock’s fifty day moving average is $17.54 and its 200-day moving average is $21.81.

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