Edgestream Partners L.P. Takes Position in NovoCure Limited (NASDAQ:NVCR)

Edgestream Partners L.P. bought a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 115,929 shares of the medical equipment provider's stock, valued at approximately $1,812,000. Edgestream Partners L.P. owned 0.11% of NovoCure as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of NovoCure in the 1st quarter worth $695,000. CWM LLC lifted its stake in shares of NovoCure by 182.3% in the 2nd quarter. CWM LLC now owns 5,281 shares of the medical equipment provider's stock worth $90,000 after acquiring an additional 3,410 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of NovoCure by 45.5% in the 2nd 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 period. Nisa Investment Advisors LLC purchased a new position in shares of NovoCure in the 2nd quarter valued at about $48,000. Finally, Fifth Third Bancorp purchased a new position in shares of NovoCure in the 2nd quarter valued at about $43,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Price Performance

Shares of NVCR traded down $1.28 during mid-day trading on Wednesday, hitting $29.23. The company's stock had a trading volume of 2,047,172 shares, compared to its average volume of 1,335,602. The firm has a 50-day moving average price of $17.46 and a 200 day moving average price of $18.58. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -20.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a fifty-two week low of $11.66 and a fifty-two week high of $32.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to analysts' expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the company posted ($0.46) earnings per share. On average, research analysts predict that NovoCure Limited will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on NVCR shares. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research report on Monday. Wedbush reissued a "neutral" rating and issued a $29.00 price objective (up previously from $24.00) on shares of NovoCure in a research report on Monday. Finally, Evercore ISI raised shares of NovoCure from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $18.00 to $30.00 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, NovoCure presently 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.