Exchange Traded Concepts LLC Acquires 8,272 Shares of NovoCure Limited (NASDAQ:NVCR)

Exchange Traded Concepts LLC grew its position in shares of NovoCure Limited (NASDAQ:NVCR) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,427 shares of the medical equipment provider’s stock after buying an additional 8,272 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NovoCure were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in NovoCure by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock worth $156,675,000 after acquiring an additional 264,883 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after acquiring an additional 125,715 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of NovoCure by 171.9% in the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock worth $13,022,000 after buying an additional 480,600 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of NovoCure by 5.8% in the 2nd quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider’s stock worth $12,726,000 after buying an additional 40,870 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of NovoCure by 305.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock worth $7,428,000 after purchasing an additional 358,062 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NovoCure stock opened at $17.21 on Friday. The firm’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $17.72. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -9.51 and a beta of 0.70. 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 1.81, a current ratio of 6.46 and a quick ratio of 6.22.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.09. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The company had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $135.83 million. During the same period in the previous year, the company posted ($0.54) EPS. NovoCure’s revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts forecast that NovoCure Limited will post -1.34 earnings per share for the current year.

Analysts Set New Price Targets

NVCR has been the subject of several research reports. 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. Evercore ISI reduced their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. HC Wainwright raised shares of NovoCure from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $30.00 in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and a consensus target price of $26.17.

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.