NovoCure Limited (NASDAQ:NVCR) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in NovoCure Limited (NASDAQ:NVCR) by 222.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,853 shares of the medical equipment provider’s stock after acquiring an additional 124,793 shares during the period. Franklin Resources Inc.’s holdings in NovoCure were worth $2,904,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after purchasing an additional 90,422 shares in the last quarter. Nordwand Advisors LLC lifted its holdings in shares of NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after buying an additional 1,514,824 shares during the period. Geode Capital Management LLC boosted its stake in NovoCure by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after buying an additional 29,871 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NovoCure by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after acquiring an additional 84,606 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in NovoCure by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock worth $12,886,000 after acquiring an additional 16,339 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Up 1.6 %

NASDAQ:NVCR opened at $30.97 on Thursday. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -22.12 and a beta of 0.75. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $21.67 and its 200 day moving average price is $19.31.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts forecast that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVCR shares. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective (up previously from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Wedbush restated a “neutral” rating and issued a $29.00 target price (up from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Finally, Piper Sandler upped their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.67.

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.