Thrivent Financial for Lutherans Invests $626,000 in NovoCure Limited (NASDAQ:NVCR)

Thrivent Financial for Lutherans bought a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 36,495 shares of the medical equipment provider’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 480,600 shares during the period. Invenomic Capital Management LP acquired a new stake in NovoCure during the 4th quarter worth approximately $6,479,000. Jacobs Levy Equity Management Inc. boosted its stake in NovoCure by 305.6% in 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 purchasing an additional 358,062 shares during the period. Panagora Asset Management Inc. increased its position 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 buying an additional 309,805 shares during the period. Finally, Vanguard Group Inc. increased its position in NovoCure by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock worth $156,675,000 after buying an additional 264,883 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NovoCure stock opened at $14.66 on Wednesday. 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 company has a market cap of $1.58 billion, a PE ratio of -7.99 and a beta of 0.70. The company has a 50 day moving average of $17.86 and a 200-day moving average of $17.65. NovoCure Limited has a 1-year low of $10.87 and a 1-year high of $24.74.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $135.83 million. During the same period in the prior year, the company earned ($0.54) earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts forecast that NovoCure Limited will post -1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVCR has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target 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. HC Wainwright boosted their price target on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Evercore ISI lowered their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $25.17.

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.