NovoCure Limited (NASDAQ:NVCR) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in shares of NovoCure Limited (NASDAQ:NVCR) by 26.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 963,900 shares of the medical equipment provider’s stock after selling 355,500 shares during the period. Two Sigma Advisers LP owned about 0.89% of NovoCure worth $15,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position in NovoCure by 182.3% during the second 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 grew its position in shares of NovoCure by 45.5% during the second quarter. AdvisorNet Financial Inc now owns 8,000 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 2,500 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of NovoCure in the 2nd quarter valued at $48,000. Fifth Third Bancorp purchased a new stake in NovoCure in the 2nd quarter valued at $43,000. Finally, Bank of New York Mellon Corp raised its position in NovoCure by 56.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider’s stock valued at $7,194,000 after purchasing an additional 152,185 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Stock Up 5.1 %

Shares of NASDAQ:NVCR opened at $27.96 on Monday. NovoCure Limited has a fifty-two week low of $11.66 and a fifty-two week high of $32.60. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $17.93 and its 200-day simple moving average is $18.60. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -19.97 and a beta of 0.75.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same quarter last year, the firm earned ($0.46) earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts predict that NovoCure Limited will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVCR shares. Wedbush restated a “neutral” rating and issued a $29.00 price objective (up from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective (up from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.33.

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.