Legal & General Group Plc Sells 26,654 Shares of NovoCure Limited (NASDAQ:NVCR)

Legal & General Group Plc cut its position in shares of NovoCure Limited (NASDAQ:NVCR) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,758 shares of the medical equipment provider’s stock after selling 26,654 shares during the period. Legal & General Group Plc owned about 0.15% of NovoCure worth $4,701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in NVCR. Lindbrook Capital LLC raised its holdings in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its holdings 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 valued at $56,000 after purchasing an additional 781 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure in the 4th quarter worth approximately $70,000. Versant Capital Management Inc lifted its position in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 880 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of NovoCure by 57.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after purchasing an additional 1,575 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reduced their price target on NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. StockNews.com raised NovoCure from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.17.

NovoCure Stock Performance

NovoCure stock opened at $15.58 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a market cap of $1.71 billion, a PE ratio of -11.13 and a beta of 0.65. The stock has a 50-day moving average of $18.83 and a two-hundred day moving average of $21.64. NovoCure Limited has a one year low of $11.70 and a one year high of $34.13.

NovoCure (NASDAQ:NVCR) last released its earnings results 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 return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. On average, research analysts anticipate that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.