Lindbrook Capital LLC Increases Holdings in NovoCure Limited (NASDAQ:NVCR)

Lindbrook Capital LLC lifted its position in NovoCure Limited (NASDAQ:NVCR) by 189.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,854 shares of the medical equipment provider’s stock after purchasing an additional 1,213 shares during the quarter. Lindbrook Capital LLC’s holdings in NovoCure were worth $55,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NVCR. Brooklyn Investment Group purchased a new position in shares of NovoCure in the third quarter worth about $45,000. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 781 shares during the last quarter. Venturi Wealth Management LLC raised its position in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after acquiring an additional 1,354 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in NovoCure during the fourth quarter valued at approximately $70,000. Finally, Versant Capital Management Inc raised its position in NovoCure by 35.8% during the fourth 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 in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVCR. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. StockNews.com cut NovoCure from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. Piper Sandler lifted their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.67.

NovoCure Stock Up 4.8 %

NovoCure stock opened at $20.18 on Friday. The stock has a market capitalization of $2.22 billion, a PE ratio of -14.41 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 business has a 50 day simple moving average of $24.37 and a 200-day simple moving average of $21.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data 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). The business had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, analysts anticipate that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.