Federated Hermes Inc. Purchases 548,852 Shares of NovoCure Limited (NASDAQ:NVCR)

Federated Hermes Inc. boosted its position in NovoCure Limited (NASDAQ:NVCR) by 807.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 616,792 shares of the medical equipment provider’s stock after purchasing an additional 548,852 shares during the quarter. Federated Hermes Inc.’s holdings in NovoCure were worth $9,209,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. bought a new stake in NovoCure in the 3rd quarter valued at $26,000. China Universal Asset Management Co. Ltd. lifted its position in shares of NovoCure by 96.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 1,347 shares during the period. CWM LLC lifted its position in shares of NovoCure by 127.9% during the 3rd quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 2,184 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of NovoCure during the 3rd quarter valued at $74,000. Finally, Acadian Asset Management LLC bought a new stake in shares of NovoCure during the 3rd quarter valued at $85,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVCR. Piper Sandler reiterated an “overweight” rating and set a $28.00 target price (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. HC Wainwright upped their target price on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Wedbush reiterated a “neutral” rating and set a $21.00 target price on shares of NovoCure in a research report on Wednesday, March 27th. Wells Fargo & Company cut their target price on NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their target price on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.13.

NovoCure Trading Up 2.4 %

NovoCure stock opened at $12.34 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. NovoCure Limited has a 52 week low of $10.87 and a 52 week high of $83.60. The stock has a fifty day moving average of $14.57 and a 200-day moving average of $13.94.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company had revenue of $133.80 million during the quarter, compared to analysts’ expectations of $133.80 million. During the same quarter in the previous year, the firm earned ($0.36) EPS. NovoCure’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that NovoCure Limited will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the transaction, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Insiders sold a total of 7,921 shares of company stock valued at $127,161 in the last 90 days. Corporate insiders own 5.67% of the company’s stock.

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.