Ameriprise Financial Inc. Has $682,000 Position in NovoCure Limited (NASDAQ:NVCR)

Ameriprise Financial Inc. raised its stake in NovoCure Limited (NASDAQ:NVCR) by 77.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,883 shares of the medical equipment provider’s stock after acquiring an additional 10,007 shares during the period. Ameriprise Financial Inc.’s holdings in NovoCure were worth $682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVCR. GeoWealth Management LLC bought a new position in shares of NovoCure in the fourth quarter worth $27,000. Lindbrook Capital LLC grew its stake in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. increased its holdings in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. SBI Securities Co. Ltd. bought a new position in NovoCure in the 4th quarter valued at about $70,000. Finally, KBC Group NV raised its position in shares of NovoCure by 65.1% in the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 2,008 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Performance

Shares of NovoCure stock opened at $17.04 on Tuesday. The company’s 50 day moving average price is $17.48 and its two-hundred day moving average price is $21.94. The firm has a market capitalization of $1.90 billion, a P/E ratio of -12.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating 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%. The company had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. During the same quarter last year, the business posted ($0.36) EPS. NovoCure’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NVCR shares. Wall Street Zen lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Wedbush reduced their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler lowered their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure currently has an average rating of “Hold” and a consensus target price of $32.83.

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.