Federated Hermes Inc. Has $9.21 Million Position in NovoCure Limited (NASDAQ:NVCR)

Federated Hermes Inc. boosted its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 807.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 616,792 shares of the medical equipment provider’s stock after purchasing an additional 548,852 shares during the quarter. Federated Hermes Inc. owned about 0.58% of NovoCure worth $9,209,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NVCR. CWM LLC boosted its position in NovoCure by 127.9% during the third quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 2,184 shares during the period. SG Americas Securities LLC bought a new stake in NovoCure during the third quarter worth approximately $2,598,000. Exchange Traded Concepts LLC boosted its position in NovoCure by 203.6% during the third quarter. Exchange Traded Concepts LLC now owns 51,132 shares of the medical equipment provider’s stock worth $826,000 after purchasing an additional 34,289 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in NovoCure during the third quarter worth approximately $121,000. Finally, UMB Bank n.a. bought a new stake in shares of NovoCure in the third quarter valued at approximately $26,000. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock worth $127,161 over the last three months. 5.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVCR shares. Wedbush reissued a “neutral” rating and issued a $21.00 price objective on shares of NovoCure in a research report on Wednesday, March 27th. HC Wainwright increased their price objective on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Wells Fargo & Company reduced their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NovoCure presently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

NovoCure Stock Up 2.4 %

Shares of NVCR stock opened at $12.34 on Thursday. NovoCure Limited has a one year low of $10.87 and a one year high of $83.60. The stock has a fifty day moving average price of $14.57 and a 200 day moving average price of $13.94. The company has a quick ratio of 5.56, a current ratio of 5.78 and a debt-to-equity ratio of 1.57.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.08. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same period in the prior year, the company posted ($0.36) earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that NovoCure Limited will post -1.78 EPS for the current fiscal 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.