Taylor Frigon Capital Management LLC Has $4.28 Million Position in NovoCure Limited (NASDAQ:NVCR)

Taylor Frigon Capital Management LLC reduced its position in NovoCure Limited (NASDAQ:NVCR) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,442 shares of the medical equipment provider’s stock after selling 16,604 shares during the quarter. NovoCure comprises about 2.2% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 3rd largest position. Taylor Frigon Capital Management LLC’s holdings in NovoCure were worth $4,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of NovoCure during the 3rd quarter worth approximately $45,000. Blue Trust Inc. lifted its stake in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 781 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 1,354 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 701 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake 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 valued at $100,000 after purchasing an additional 880 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Performance

Shares of NVCR stock opened at $21.96 on Thursday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -15.69 and a beta of 0.62. 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 moving average price is $26.03 and its 200-day moving average price is $21.42. NovoCure Limited has a 12 month low of $11.70 and a 12 month high of $34.13.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. 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. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Piper Sandler upped their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

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.