Emerald Mutual Fund Advisers Trust Takes Position in NovoCure Limited (NASDAQ:NVCR)

Emerald Mutual Fund Advisers Trust acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 325,255 shares of the medical equipment provider’s stock, valued at approximately $9,693,000.

Other institutional investors have also recently modified their holdings of the company. GeoWealth Management LLC purchased a new position in shares of NovoCure during the 4th quarter worth $27,000. Lindbrook Capital LLC grew 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 valued at $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. grew its stake in 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of NovoCure during the 4th quarter valued at approximately $70,000. Finally, Versant Capital Management Inc grew its position in shares of NovoCure by 35.8% during the 4th 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 last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Down 1.0 %

NVCR stock opened at $18.31 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market cap of $2.04 billion, a PE ratio of -13.08 and a beta of 0.65. NovoCure Limited has a 12 month low of $12.17 and a 12 month high of $34.13. The firm has a 50 day simple moving average of $18.41 and a 200 day simple moving average of $21.74.

NovoCure (NASDAQ:NVCR) last posted 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%. The firm had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. During the same quarter in the previous year, the company earned ($0.36) EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVCR shares. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler cut their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research note 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 stock. According to MarketBeat.com, the company 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.