5 Worst Performing Healthcare Stocks in 2023

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1. NovoCure Limited (NASDAQ:NVCR)

YTD Share Price Decline as of August 13: 54.02%

Number of Hedge Fund Holders: 19

NovoCure Limited (NASDAQ:NVCR) focuses on developing solutions to treat tumors and cancer. On July 27, NovoCure Limited (NASDAQ:NVCR) announced a Q2 GAAP loss per share of $0.54, which failed to meet market estimates by $0.04. However, the revenue came in at $126.05 million, surpassing Street consensus by $1.8 million. As of August 13, NovoCure Limited (NASDAQ:NVCR) stock has plummeted 54% year-to-date, making it one of the worst performing healthcare companies this year. 

According to Insider Monkey’s first quarter database, 19 hedge funds were bullish on NovoCure Limited (NASDAQ:NVCR). In contrast, 17 hedge funds invested in the company during the previous quarter. Dmitry Balyasny’s Balyasny Asset Management held the largest share in the company, with 358,029 shares worth $21.5 million.

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