TIAA Trust National Association Invests $239,000 in NovoCure Limited (NASDAQ:NVCR)

TIAA Trust National Association acquired a new stake in NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,035 shares of the medical equipment provider’s stock, valued at approximately $239,000.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in NovoCure in the 3rd quarter valued at $45,000. Lindbrook Capital LLC grew its holdings in shares of 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 acquiring an additional 1,213 shares in the last quarter. Blue Trust Inc. increased its position in shares of 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in NovoCure during the fourth quarter worth about $70,000. Finally, Versant Capital Management Inc boosted its position in 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 purchasing an additional 880 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NASDAQ NVCR opened at $18.86 on Friday. NovoCure Limited has a 52-week low of $11.70 and a 52-week high of $34.13. The stock has a market cap of $2.07 billion, a PE ratio of -13.47 and a beta of 0.63. The firm has a 50-day moving average of $21.72 and a 200-day moving average of $21.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (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 firm had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. On average, sell-side analysts anticipate that NovoCure Limited will post -1.3 EPS for the current year.

Analysts Set New Price Targets

NVCR has been the topic of several recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. StockNews.com lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler lifted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Finally, Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned 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 $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.