Legato Capital Management LLC Has $1.09 Million Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Legato Capital Management LLC lowered its position in NovoCure Limited (NASDAQ:NVCR) by 34.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,460 shares of the medical equipment provider’s stock after selling 19,107 shares during the quarter. Legato Capital Management LLC’s holdings in NovoCure were worth $1,087,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in shares of NovoCure by 222.6% during the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after purchasing an additional 124,793 shares during the period. Intech Investment Management LLC bought a new position in NovoCure during the 3rd quarter worth $346,000. Geode Capital Management LLC lifted its holdings in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after buying an additional 29,871 shares during the period. Semanteon Capital Management LP bought a new stake in shares of NovoCure in the 3rd quarter valued at about $1,152,000. Finally, FMR LLC increased its stake in shares of NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after buying an additional 90,422 shares during the period. Institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

NovoCure stock opened at $21.37 on Thursday. The stock’s 50 day moving average price is $27.88 and its two-hundred day moving average price is $21.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVCR shares. Evercore ISI raised 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 restated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

NovoCure 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.