NovoCure Limited (NASDAQ:NVCR) Stock Position Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 28.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,003 shares of the medical equipment provider’s stock after selling 10,492 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NovoCure were worth $775,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of NVCR. Lindbrook Capital LLC grew its position in NovoCure by 189.2% in the 4th 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. lifted its stake in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 781 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of NovoCure in the fourth quarter valued at approximately $70,000. Versant Capital Management Inc increased its stake in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in NovoCure by 57.4% during the fourth 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. 84.61% of the stock is currently owned by institutional investors.

NovoCure Price Performance

NVCR opened at $17.94 on Thursday. The firm has a market capitalization of $1.97 billion, a P/E ratio of -12.81 and a beta of 0.63. The stock has a fifty day moving average of $21.19 and a 200-day moving average of $21.65. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 12-month low of $11.70 and a 12-month high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. Equities analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVCR shares. StockNews.com lowered NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Wedbush reiterated a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

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.