22,143 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,143 shares of the medical equipment provider’s stock, valued at approximately $346,000.

Several other institutional investors have also bought and sold shares of NVCR. Tidal Investments LLC acquired a new stake in NovoCure in the 1st quarter valued at about $695,000. CWM LLC raised its holdings in NovoCure by 182.3% during the 2nd quarter. CWM LLC now owns 5,281 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 3,410 shares during the period. AdvisorNet Financial Inc raised its holdings in NovoCure by 45.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 8,000 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 2,500 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of NovoCure in the 2nd quarter valued at about $48,000. Finally, Fifth Third Bancorp acquired a new position in shares of NovoCure in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $30.51 on Wednesday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.79 and a beta of 0.75. NovoCure Limited has a one year low of $11.66 and a one year high of $32.60. The business has a fifty day simple moving average of $17.19 and a 200 day simple moving average of $18.51. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $143.95 million. During the same period last year, the business earned ($0.46) earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts expect that NovoCure Limited will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NVCR shares. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and upped their target price for the company from $18.00 to $30.00 in a report on Monday. Wedbush reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price (up previously from $30.00) on shares of NovoCure in a research report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.33.

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.