Mariner LLC Acquires Shares of 8,631 NovoCure Limited (NASDAQ:NVCR)

Mariner LLC bought a new position in NovoCure Limited (NASDAQ:NVCR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,631 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of NovoCure by 4.6% during the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock worth $871,000 after purchasing an additional 2,465 shares during the period. Franklin Resources Inc. grew its position in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after buying an additional 124,793 shares during the last quarter. Nisa Investment Advisors LLC raised 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 worth $129,000 after acquiring an additional 1,575 shares during the period. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 781 shares during the last quarter. Finally, KBC Group NV boosted its stake in NovoCure by 65.1% in the fourth quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock valued at $152,000 after acquiring an additional 2,008 shares during the period. 84.61% of the stock is currently owned by institutional investors.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $17.76 on Tuesday. NovoCure Limited has a 52-week low of $14.17 and a 52-week high of $34.13. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -12.69 and a beta of 0.73. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $18.06 and its 200 day simple moving average is $21.77.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.16. The firm had revenue of $154.99 million for the quarter, compared to analysts’ expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. As a group, sell-side analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Piper Sandler decreased their target price on shares of NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wedbush cut their price target on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.83.

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.