NovoCure Limited (NASDAQ:NVCR) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lessened its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 29.8% in the fourth quarter, Holdings Channel reports. The firm owned 348,307 shares of the medical equipment provider’s stock after selling 147,804 shares during the period. Silvercrest Asset Management Group LLC’s holdings in NovoCure were worth $10,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVCR. Nisa Investment Advisors LLC increased its position in NovoCure by 57.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 1,575 shares in the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th 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 in the last quarter. KBC Group NV increased its position in NovoCure by 65.1% during the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock worth $152,000 after purchasing an additional 2,008 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in NovoCure by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,943 shares of the medical equipment provider’s stock valued at $684,000 after acquiring an additional 2,129 shares in the last quarter. Finally, Choreo LLC acquired a new stake in NovoCure in the fourth quarter valued at approximately $251,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

NVCR has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Piper Sandler lowered their price objective 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. StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Finally, Wedbush lowered their price objective on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.83.

NovoCure Stock Performance

NovoCure stock opened at $17.89 on Friday. The stock has a market cap of $1.99 billion, a P/E ratio of -12.78 and a beta of 0.73. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $17.70 and a 200-day moving average of $21.79. NovoCure Limited has a 52 week low of $14.17 and a 52 week high of $34.13.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company had revenue of $154.99 million during the quarter, compared to analysts’ expectations of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS. On average, analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.