GF Fund Management CO. LTD. Acquires Shares of 2,272 NovoCure Limited (NASDAQ:NVCR)

GF Fund Management CO. LTD. bought a new position in NovoCure Limited (NASDAQ:NVCR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,272 shares of the medical equipment provider’s stock, valued at approximately $68,000.

A number of other institutional investors have also recently modified their holdings of the stock. GeoWealth Management LLC purchased a new position in shares of NovoCure in the 4th quarter worth about $27,000. Lindbrook Capital LLC increased its stake in NovoCure by 189.2% during the 4th 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. raised its holdings in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of NovoCure in the fourth quarter worth approximately $70,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of NovoCure by 57.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 1,575 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVCR. Wedbush reduced their price target 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. Piper Sandler reduced their target price on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen downgraded NovoCure from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.83.

NovoCure Price Performance

Shares of NVCR opened at $18.54 on Tuesday. The firm has a market cap of $2.07 billion, a PE ratio of -13.24 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 current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $17.51 and a two-hundred day simple moving average of $21.89.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data 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. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $154.99 million during the quarter, compared to analysts’ expectations of $147.57 million. During the same quarter in the prior year, the business earned ($0.36) earnings per share. NovoCure’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, 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.