Los Angeles Capital Management LLC Boosts Stake in NovoCure Limited (NASDAQ:NVCR)

Los Angeles Capital Management LLC increased its stake in NovoCure Limited (NASDAQ:NVCR) by 362.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,601 shares of the medical equipment provider’s stock after purchasing an additional 55,334 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NovoCure were worth $2,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 701 shares during the period. Nordwand Advisors LLC increased its holdings in NovoCure by 100.0% in the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after acquiring an additional 1,514,824 shares in the last quarter. Venturi Wealth Management LLC raised its stake in NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NovoCure by 16.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 426,263 shares of the medical equipment provider’s stock valued at $6,662,000 after purchasing an additional 59,608 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of NovoCure in the third quarter worth approximately $346,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Down 0.8 %

NVCR opened at $19.07 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of -13.62 and a beta of 0.62. The firm has a 50-day simple moving average of $25.57 and a two-hundred day simple moving average of $21.41. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13.

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

Analyst Ratings Changes

NVCR has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus target price 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.