Aristides Capital LLC Makes New $178,000 Investment in NovoCure Limited (NASDAQ:NVCR)

Aristides Capital LLC acquired a new stake in shares of NovoCure Limited (NASDAQ:NVCR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,400 shares of the medical equipment provider’s stock, valued at approximately $178,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in NovoCure during the 4th quarter valued at approximately $14,543,000. Federated Hermes Inc. raised its holdings in shares of NovoCure by 807.8% during the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock valued at $9,209,000 after acquiring an additional 548,852 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in NovoCure in the fourth quarter worth $6,479,000. C WorldWide Group Holding A S boosted its holdings in NovoCure by 135.3% in the fourth quarter. C WorldWide Group Holding A S now owns 521,784 shares of the medical equipment provider’s stock valued at $7,790,000 after acquiring an additional 300,000 shares in the last quarter. 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 valued at $156,675,000 after purchasing an additional 264,883 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Up 2.0 %

NovoCure stock traded up $0.37 during mid-day trading on Friday, hitting $19.02. The company had a trading volume of 1,236,980 shares, compared to its average volume of 1,881,869. The stock’s 50 day moving average price is $19.84 and its two-hundred day moving average price is $16.56. The company has a current ratio of 6.26, a quick ratio of 5.99 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $2.05 billion, a PE ratio of -10.51 and a beta of 0.70. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $41.51.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.09. The company had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $135.83 million. NovoCure had a negative return on equity of 45.37% and a negative net margin of 30.67%. NovoCure’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.54) earnings per share. As a group, sell-side analysts anticipate that NovoCure Limited will post -1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HC Wainwright boosted their price target on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company decreased their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Evercore ISI upped their price target on NovoCure from $14.50 to $20.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Finally, Wedbush reissued an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research report on Thursday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.88.

NovoCure 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.