Bank of Montreal Can Buys New Position in NovoCure Limited (NASDAQ:NVCR)

Bank of Montreal Can purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,183 shares of the medical equipment provider’s stock, valued at approximately $244,000.

A number of other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC increased its stake in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 1,213 shares during the period. Blue Trust Inc. increased its position in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of NovoCure in the 4th quarter worth $70,000. Versant Capital Management Inc lifted its holdings in shares of NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 880 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in NovoCure by 57.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 1,575 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVCR. JPMorgan Chase & Co. cut their price target on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. StockNews.com cut NovoCure from a “hold” rating to a “sell” rating in a report on Friday. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Piper Sandler cut their target price on NovoCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, NovoCure currently has a consensus rating of “Hold” and a consensus target price of $32.83.

NovoCure Price Performance

NVCR opened at $18.55 on Friday. The firm has a market capitalization of $2.07 billion, a P/E ratio of -13.25 and a beta of 0.65. The stock has a fifty day moving average of $18.55 and a 200-day moving average of $21.60. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 12-month low of $11.88 and a 12-month high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Equities analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

About NovoCure

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.