NovoCure (NASDAQ:NVCR) Shares Down 4.7% – Should You Sell?

NovoCure Limited (NASDAQ:NVCR) shares dropped 4.7% during trading on Tuesday . The stock traded as low as $17.90 and last traded at $17.90. Approximately 45,194 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,273,558 shares. The stock had previously closed at $18.78.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of NovoCure in a report on Thursday, November 21st. Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

NovoCure Stock Performance

The firm’s fifty day moving average price is $16.56 and its 200-day moving average price is $18.40. 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 company has a market cap of $2.13 billion, a P/E ratio of -14.06 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same quarter in the previous year, the firm posted ($0.46) EPS. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that NovoCure Limited will post -1.31 EPS for the current fiscal year.

Institutional Trading of NovoCure

Several institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of 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 acquiring an additional 90,422 shares in the last quarter. Vanguard Group Inc. boosted its position in NovoCure by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after buying an additional 264,883 shares in the last quarter. Nordwand Advisors LLC boosted its position in 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 in the last quarter. Geode Capital Management LLC boosted its position in NovoCure by 1.3% in 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. Finally, Price T Rowe Associates Inc. MD boosted its position in NovoCure by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after buying an additional 125,715 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.