Teacher Retirement System of Texas Acquires Shares of 59,252 NovoCure Limited (NASDAQ:NVCR)

Teacher Retirement System of Texas bought a new position in shares of NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 59,252 shares of the medical equipment provider’s stock, valued at approximately $1,766,000.

Several other institutional investors have also modified their holdings of NVCR. Brooklyn Investment Group acquired a new stake in NovoCure during the 3rd quarter valued at approximately $45,000. Lindbrook Capital LLC increased its stake 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 worth $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. raised its holdings in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 781 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in NovoCure in the fourth quarter valued at $70,000. Finally, Versant Capital Management Inc boosted its stake in NovoCure by 35.8% during the 4th 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 last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Up 2.9 %

Shares of NovoCure stock opened at $18.97 on Friday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -13.55 and a beta of 0.63. NovoCure Limited has a twelve month low of $11.70 and a twelve month 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 business’s 50 day simple moving average is $21.87 and its 200-day simple moving average is $21.60.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVCR. Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler upped their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

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.