NovoCure Limited (NASDAQ:NVCR) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in NovoCure Limited (NASDAQ:NVCR) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,919 shares of the medical equipment provider’s stock after buying an additional 2,468 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NovoCure were worth $445,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after buying an additional 29,871 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in NovoCure by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider’s stock worth $24,919,000 after acquiring an additional 11,771 shares in the last quarter. C WorldWide Group Holding A S lifted its position in NovoCure by 19.2% in the fourth quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock valued at $18,529,000 after acquiring an additional 100,000 shares during the last quarter. Emerald Advisers LLC acquired a new position in NovoCure in the fourth quarter valued at $16,317,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NovoCure by 2.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 437,772 shares of the medical equipment provider’s stock worth $13,046,000 after purchasing an additional 11,509 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Wedbush reiterated a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. StockNews.com lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

NovoCure Stock Up 10.3 %

NovoCure stock opened at $16.95 on Thursday. The stock has a 50 day moving average of $19.89 and a two-hundred day moving average of $21.56. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -12.11 and a beta of 0.65. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The company had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. As a group, research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

NovoCure 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.