Franklin Resources Inc. Invests $811,000 in NovoCure Limited (NASDAQ:NVCR)

Franklin Resources Inc. acquired a new position in NovoCure Limited (NASDAQ:NVCRFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 54,295 shares of the medical equipment provider’s stock, valued at approximately $811,000. Franklin Resources Inc. owned about 0.05% of NovoCure as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NVCR. Norges Bank purchased a new position in shares of NovoCure in the fourth quarter worth about $14,543,000. Federated Hermes Inc. raised its stake in shares of NovoCure by 807.8% in the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock worth $9,209,000 after purchasing an additional 548,852 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in NovoCure by 490.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider’s stock valued at $6,603,000 after acquiring an additional 339,610 shares in the last quarter. C WorldWide Group Holding A S raised its position in NovoCure by 135.3% during the fourth quarter. C WorldWide Group Holding A S now owns 521,784 shares of the medical equipment provider’s stock valued at $7,790,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Trexquant Investment LP raised its position in NovoCure by 240.0% during the fourth quarter. Trexquant Investment LP now owns 226,320 shares of the medical equipment provider’s stock valued at $3,379,000 after acquiring an additional 159,755 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $22.15 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.26 and a quick ratio of 5.99. The business’s 50 day moving average price is $17.03 and its 200-day moving average price is $15.16. The firm has a market capitalization of $2.38 billion, a PE ratio of -12.24 and a beta of 0.78. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $48.92.

NovoCure (NASDAQ:NVCRGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $138.50 million for the quarter, compared to analyst estimates of $131.44 million. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. As a group, equities research analysts expect that NovoCure Limited will post -1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVCR. Wedbush reiterated an “outperform” rating and set a $24.00 price target (up from $21.00) on shares of NovoCure in a research report on Monday. Evercore ISI lifted their price target on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Wells Fargo & Company reduced their price target on NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price target on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.25.

Read Our Latest Stock Report on NVCR

NovoCure Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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