Venturi Wealth Management LLC Has $69,000 Stake in NovoCure Limited (NASDAQ:NVCR)

Venturi Wealth Management LLC decreased its position in shares of NovoCure Limited (NASDAQ:NVCR) by 36.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,319 shares of the medical equipment provider’s stock after selling 1,350 shares during the quarter. Venturi Wealth Management LLC’s holdings in NovoCure were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVCR. Nordwand Advisors LLC boosted its holdings in shares of NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after acquiring an additional 1,514,824 shares in the last quarter. Franklin Resources Inc. raised its position in NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after purchasing an additional 124,793 shares during the last quarter. Edgestream Partners L.P. bought a new position in NovoCure during the 3rd quarter worth $1,812,000. FMR LLC raised its position in NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock worth $253,706,000 after purchasing an additional 90,422 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NovoCure by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after purchasing an additional 84,606 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVCR. Wedbush reaffirmed a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, NovoCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

NovoCure Stock Performance

NVCR stock opened at $21.24 on Tuesday. The stock has a 50-day moving average price of $26.44 and a 200-day moving average price of $21.40. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13. 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 firm has a market cap of $2.30 billion, a PE ratio of -15.17 and a beta of 0.62.

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.