Teacher Retirement System of Texas bought a new position in Novocure Ltd (NASDAQ:NVCR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 15,347 shares of the medical equipment provider’s stock, valued at approximately $310,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. boosted its stake in Novocure by 29.9% in the 4th quarter. Hodges Capital Management Inc. now owns 273,500 shares of the medical equipment provider’s stock worth $5,525,000 after purchasing an additional 63,000 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in Novocure by 107.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 171,237 shares of the medical equipment provider’s stock worth $3,459,000 after purchasing an additional 88,753 shares in the last quarter. Engineers Gate Manager LP boosted its stake in Novocure by 202.3% in the 4th quarter. Engineers Gate Manager LP now owns 67,899 shares of the medical equipment provider’s stock worth $1,372,000 after purchasing an additional 45,438 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in Novocure by 53.0% in the 4th quarter. Chicago Equity Partners LLC now owns 155,725 shares of the medical equipment provider’s stock worth $3,146,000 after purchasing an additional 53,930 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in Novocure by 38.0% in the 4th quarter. Peregrine Capital Management LLC now owns 865,671 shares of the medical equipment provider’s stock worth $17,487,000 after purchasing an additional 238,195 shares in the last quarter. Institutional investors own 42.81% of the company’s stock.

Novocure Ltd (NASDAQ NVCR) opened at $21.70 on Friday. Novocure Ltd has a 1 year low of $6.75 and a 1 year high of $24.15. The company has a quick ratio of 4.44, a current ratio of 4.88 and a debt-to-equity ratio of 0.86.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Novocure had a negative net margin of 34.83% and a negative return on equity of 51.74%. The company had revenue of $53.66 million during the quarter, compared to analyst estimates of $53.17 million. During the same period last year, the firm posted ($0.26) EPS. Novocure’s revenue for the quarter was up 77.4% compared to the same quarter last year. analysts forecast that Novocure Ltd will post -0.5 earnings per share for the current fiscal year.

A number of analysts recently commented on the stock. ValuEngine upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Zacks Investment Research cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Mizuho reiterated a “buy” rating and issued a $28.00 target price (up from $25.00) on shares of Novocure in a research note on Friday, February 23rd. Finally, Deutsche Bank lowered their target price on shares of Novocure from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Novocure presently has an average rating of “Buy” and an average target price of $21.50.

In other Novocure news, General Counsel Todd Christopher Longsworth sold 6,591 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.83, for a total transaction of $130,699.53. Following the completion of the transaction, the general counsel now directly owns 26,665 shares of the company’s stock, valued at approximately $528,766.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Ambrogi sold 8,458 shares of Novocure stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.83, for a total transaction of $167,722.14. Following the transaction, the chief operating officer now directly owns 105,288 shares of the company’s stock, valued at $2,087,861.04. The disclosure for this sale can be found here. Insiders have sold a total of 511,492 shares of company stock valued at $11,300,256 over the last three months. 16.70% of the stock is currently owned by insiders.

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Novocure Profile

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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