NovoCure Limited (NASDAQ:NVCR) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in NovoCure Limited (NASDAQ:NVCR) by 87.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,612 shares of the medical equipment provider’s stock after selling 123,997 shares during the period. SG Americas Securities LLC’s holdings in NovoCure were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of NovoCure in the second quarter valued at about $28,000. Signaturefd LLC grew its holdings in shares of NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NovoCure in the second quarter valued at about $34,000. Fifth Third Bancorp purchased a new stake in shares of NovoCure in the second quarter valued at about $43,000. Finally, GAMMA Investing LLC grew its holdings in shares of NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 2,118 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Up 1.8 %

NovoCure stock opened at $17.21 on Monday. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $24.74. The stock’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $17.77. The company has a current ratio of 6.46, a quick ratio of 6.22 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $1.86 billion, a P/E ratio of -10.89 and a beta of 0.70.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVCR shares. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Evercore ISI dropped their price target on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. HC Wainwright raised shares of NovoCure from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $30.00 in a research note on Wednesday, October 16th. Finally, Wedbush reissued an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research 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 data from MarketBeat, NovoCure currently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

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.