Dimensional Fund Advisors LP Sells 3,016 Shares of NovoCure Limited (NASDAQ:NVCR)

Dimensional Fund Advisors LP lessened its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,753 shares of the medical equipment provider’s stock after selling 3,016 shares during the period. Dimensional Fund Advisors LP’s holdings in NovoCure were worth $768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC bought a new stake in shares of NovoCure in the 4th quarter valued at about $27,000. Lindbrook Capital LLC raised its stake in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. 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. SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure during the fourth quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC increased its position in shares of 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 acquiring an additional 1,575 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Piper Sandler dropped their price objective on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Wedbush decreased their price objective on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.83.

NovoCure Stock Performance

NovoCure stock opened at $17.89 on Friday. The stock’s 50 day simple moving average is $17.70 and its two-hundred day simple moving average is $21.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -12.78 and a beta of 0.73. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13.

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