Intech Investment Management LLC Makes New Investment in NovoCure Limited (NASDAQ:NVCR)

Intech Investment Management LLC purchased a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,143 shares of the medical equipment provider's stock, valued at approximately $346,000.

Several other institutional investors have also recently made changes to their positions in NVCR. Nordwand Advisors LLC increased its stake in NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the last quarter. Renaissance Technologies LLC boosted its position in NovoCure by 171.9% during the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock valued at $13,022,000 after buying an additional 480,600 shares during the period. Federated Hermes Inc. boosted its position in NovoCure by 5.8% during the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock valued at $12,726,000 after buying an additional 40,870 shares during the period. AQR Capital Management LLC boosted its position in NovoCure by 234.2% during the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider's stock valued at $7,391,000 after buying an additional 302,351 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in NovoCure by 16.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 426,263 shares of the medical equipment provider's stock valued at $6,662,000 after buying an additional 59,608 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and set a $38.00 price target (up from $30.00) on shares of NovoCure in a research report on Monday. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $18.00 to $30.00 in a report on Monday. Finally, Wedbush reaffirmed a "neutral" rating and set a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research note on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

NovoCure Stock Down 4.2 %

Shares of NVCR traded down $1.28 on Wednesday, hitting $29.23. 2,057,087 shares of the stock traded hands, compared to its average volume of 1,335,602. The company has a market capitalization of $3.16 billion, a PE ratio of -21.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business has a 50 day simple moving average of $17.19 and a 200 day simple moving average of $18.51. NovoCure Limited has a one year low of $11.66 and a one year high of $32.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.46) earnings per share. As a group, equities analysts forecast that NovoCure Limited will post -1.31 earnings per share for the current fiscal year.

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.