US Bancorp DE Trims Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

US Bancorp DE lessened its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 17.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,757 shares of the medical equipment provider’s stock after selling 1,246 shares during the quarter. US Bancorp DE’s holdings in NovoCure were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of NovoCure by 171.9% during the second 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. Jacobs Levy Equity Management Inc. boosted its stake in 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 valued at $7,428,000 after acquiring an additional 358,062 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in NovoCure by 309.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider’s stock worth $7,020,000 after acquiring an additional 309,805 shares in the last quarter. AQR Capital Management LLC increased its position in shares of NovoCure by 234.2% in the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock worth $7,391,000 after purchasing an additional 302,351 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of NovoCure by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after purchasing an additional 264,883 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Trading Down 2.8 %

Shares of NASDAQ NVCR opened at $16.11 on Friday. NovoCure Limited has a 12-month low of $11.29 and a 12-month high of $24.74. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -11.51 and a beta of 0.71. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $16.56 and its 200 day simple moving average is $18.23.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. During the same period last year, the business posted ($0.46) earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities research analysts expect that NovoCure Limited will post -1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVCR. Evercore ISI decreased their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.