Aviva PLC lowered its position in NovoCure Limited (NASDAQ:NVCR) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,830 shares of the medical equipment provider’s stock after selling 4,842 shares during the quarter. Aviva PLC’s holdings in NovoCure were worth $8,613,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in NovoCure in the second quarter valued at $1,442,000. Rockefeller Capital Management L.P. boosted its holdings in NovoCure by 29.5% in the second quarter. Rockefeller Capital Management L.P. now owns 1,251 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 285 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in NovoCure by 4.2% in the second quarter. Rafferty Asset Management LLC now owns 3,055 shares of the medical equipment provider’s stock valued at $678,000 after acquiring an additional 122 shares during the last quarter. First Mercantile Trust Co. acquired a new position in NovoCure in the second quarter valued at $143,000. Finally, Paradigm Financial Advisors LLC acquired a new position in shares of NovoCure during the second quarter worth about $292,000. Hedge funds and other institutional investors own 74.09% of the company’s stock.
NVCR has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on NovoCure from $215.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30th. TheStreet cut NovoCure from a “c” rating to a “d+” rating in a research note on Friday, August 13th. Mizuho reduced their price objective on NovoCure from $229.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, July 30th. Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 price objective (down previously from $240.00) on shares of NovoCure in a research note on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $186.14.
NASDAQ:NVCR opened at $126.07 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 8.77 and a current ratio of 9.00. NovoCure Limited has a one year low of $97.21 and a one year high of $232.76. The business’s 50-day simple moving average is $154.95 and its 200 day simple moving average is $170.52. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of -2,520.90 and a beta of 1.10.
NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 29th. The medical equipment provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.16). The firm had revenue of $133.52 million during the quarter, compared to the consensus estimate of $141.50 million. NovoCure had a negative net margin of 0.84% and a negative return on equity of 1.18%. On average, equities research analysts predict that NovoCure Limited will post -0.27 EPS for the current year.
NovoCure Ltd. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.
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