NovoCure Limited (NASDAQ:NVCR) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its holdings in NovoCure Limited (NASDAQ:NVCR) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,659,314 shares of the medical equipment provider’s stock after selling 28,207 shares during the period. Baillie Gifford & Co.’s holdings in NovoCure were worth $25,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in NovoCure by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after acquiring an additional 264,883 shares during the period. Nordwand Advisors LLC lifted its stake in shares of NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after purchasing an additional 1,514,824 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NovoCure by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock worth $37,184,000 after buying an additional 125,715 shares during the period. Renaissance Technologies LLC grew its stake in shares of NovoCure by 171.9% in the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after buying an additional 480,600 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of NovoCure by 5.8% during the 2nd quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider’s stock valued at $12,726,000 after buying an additional 40,870 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVCR shares. Wells Fargo & Company lowered their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of NovoCure in a research report on Thursday, October 31st. Finally, Evercore ISI decreased their price target on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NovoCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.17.

NovoCure Stock Down 2.0 %

NVCR stock opened at $17.82 on Wednesday. The stock’s 50 day simple moving average is $16.56 and its 200 day simple moving average is $18.18. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $24.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period last year, the firm posted ($0.46) EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts expect that NovoCure Limited will post -1.31 earnings per share for the current year.

About NovoCure

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.