NovoCure Limited (NASDAQ:NVCR) Shares Sold by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC reduced its position in shares of NovoCure Limited (NASDAQ:NVCR) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,892 shares of the medical equipment provider’s stock after selling 4,354 shares during the period. Counterpoint Mutual Funds LLC’s holdings in NovoCure were worth $742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of NovoCure in the 3rd quarter worth approximately $45,000. Lindbrook Capital LLC boosted its holdings in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. grew its position 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 valued at $70,000. Finally, Versant Capital Management Inc lifted its position in shares of NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

NovoCure Trading Down 2.8 %

NovoCure stock opened at $19.49 on Monday. The stock has a market cap of $2.14 billion, a P/E ratio of -13.92 and a beta of 0.63. NovoCure Limited has a 12 month low of $11.70 and a 12 month high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $23.41 and its 200-day simple moving average is $21.58.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The business had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. As a group, sell-side analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

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

NovoCure Company 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.