TD Asset Management Inc. lowered its holdings in NovoCure Limited (NASDAQ:NVCR) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,758 shares of the medical equipment provider’s stock after selling 1,770 shares during the quarter. TD Asset Management Inc. owned 0.05% of NovoCure worth $6,594,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Lumature Wealth Partners LLC acquired a new stake in NovoCure in the third quarter valued at $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of NovoCure in the second quarter valued at $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of NovoCure in the second quarter valued at $32,000. Cullen Frost Bankers Inc. purchased a new position in shares of NovoCure in the third quarter valued at $35,000. Finally, Berman Capital Advisors LLC increased its position in shares of NovoCure by 401.6% in the second quarter. Berman Capital Advisors LLC now owns 311 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 249 shares in the last quarter. 73.81% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on NVCR. Piper Sandler dropped their price target on NovoCure from $180.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, January 6th. Zacks Investment Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company dropped their price target on NovoCure from $105.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, NovoCure currently has a consensus rating of “Hold” and a consensus target price of $155.43.
NovoCure stock opened at $69.12 on Friday. The stock has a market cap of $7.18 billion, a PE ratio of -256.00 and a beta of 0.89. The stock has a 50-day moving average price of $88.94 and a 200 day moving average price of $124.41. NovoCure Limited has a 52 week low of $60.57 and a 52 week high of $232.76. The company has a current ratio of 8.58, a quick ratio of 8.40 and a debt-to-equity ratio of 1.36.
NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, October 28th. The medical equipment provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The business had revenue of $133.61 million during the quarter, compared to analysts’ expectations of $141.22 million. NovoCure had a negative net margin of 4.94% and a negative return on equity of 6.50%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. On average, equities analysts predict that NovoCure Limited will post -0.41 EPS for the current year.
NovoCure Ltd. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.
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