Fidelity Management & Research Co has recently announced that it has increased stake in NovoCure Ltd (NASDAQ:NVCR) by 0.21%. After grabbing 15.89 million shares, the institutional investor is now in possession of 33386.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 14.87% having worth around $195.0 million. Moreover, The Vanguard Group, Inc. increased its share by 42262.0 to have a control over 9.49 million shares. And Capital Research & Management Co raised its holdings to 0.2 million shares by acquiring 9.0 million shares or 8.43% of the stake.
NovoCure Ltd (NVCR) concluded trading on 12/28/23 at a closing price of $15.78, with 2.49 million shares of worth about $39.32 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -60.83% during that period and on Thursday the price saw a gain of about 3.95%. Currently the company’s common shares owned by public are about 105.05M shares, out of which, 96.64M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the NVCR stock and their offered price forecasts bring an average price target of $26.14. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $49.00 and could fall to a lowest price of $15.00. The stock’s current price level is 39.63% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.2% for the stock. However, touching the estimated high of $49.00 would mean a gain of 67.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 90 times over the past 12 months. They bought 490,348 shares in 39 of the transactions. In 51 selling transactions, insiders dumped 338,064 shares.
American Funds Growth Fund of Ame, Fidelity Growth Company Fund, and American Funds Small Cap World Fu are the top 3 mutual funds which are holding stakes in NovoCure Ltd American Funds Growth Fund of Ame is currently holding 6.98 million shares of worth totaling $85.67 million. The company recently came selling -0.54 million shares which brought its stake up to 6.53% of the company’s outstanding shares. American Funds Small Cap World Fu, after selling 3.43 million shares, have now control over 3.21% of the stake in the company. It holds -0.34 million shares of worth $42.13 million.
NovoCure Ltd (NASDAQ: NVCR) started trading at $15.24, above $0.06 from concluding price of the previous day. Stock saw a price change of 22.14% in past 5 days and over the past one month there was a price change of 29.34%. Year-to-date (YTD), NVCR shares are showing a performance of -78.49% which decreased to -77.08% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.87 but also hit the highest price of $120.03 during that period. The average intraday trading volume for NovoCure Ltd shares is 1.43 million. The stock is currently trading 20.72% above its 20-day simple moving average (SMA20), while that difference is up 21.23% for SMA50 and it goes to -56.85% lower than SMA200.
Fidelity Management & Research Co acquired 15.89 million shares of NovoCure Ltd having value of about $195.0 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 33386.0 shares in the company valued at close to $526831.08, or have control over 0.21% stake in the company. NovoCure Ltd (NASDAQ: NVCR) currently have 105.05M outstanding shares and institutions hold larger chunk of about 82.27% of that. Holding of mutual funds in the company is about 34.67% while other institutional holders and individual stake holders have control over 52.67% and 29.74% of the stake respectively.
The stock has a current market capitalization of $1.69B and its 3Y-monthly beta is at 0.58. It has posted earnings per share of -$1.86 in the same period. It has Quick Ratio of 6.43 while making debt-to-equity ratio of 1.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NVCR, volatility over the week remained 5.96% while standing at 5.57% over the month.
Analysts are in expectations that NovoCure Ltd (NVCR) stock would likely to be making an EPS of -$0.52 in the current quarter, while forecast for next quarter EPS is -$0.47 and it is -$1.95 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.61 which is -$0.45 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -130.13% while it is estimated to increase by 3.56% in next year.
Analysts at 7 brokerage firms have issued recommendations for the NovoCure Ltd (NVCR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.14. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on November 20, 2023 offering a Neutral rating for the stock and assigned a target price of $15 to it.
