47,034 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 47,034 shares of the medical equipment provider's stock, valued at approximately $735,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in NovoCure during the second quarter worth $28,000. Signaturefd LLC increased its position in shares of NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NovoCure in the 2nd quarter valued at $34,000. Fifth Third Bancorp acquired a new position in shares of NovoCure in the 2nd quarter valued at $43,000. Finally, Nisa Investment Advisors LLC purchased a new stake in NovoCure in the second quarter valued at $48,000. Institutional investors own 84.61% of the company's stock.

NovoCure Trading Up 2.5 %

Shares of NovoCure stock traded up $0.69 during trading hours on Monday, hitting $28.65. The company's stock had a trading volume of 951,596 shares, compared to its average volume of 1,334,873. NovoCure Limited has a 1-year low of $11.66 and a 1-year high of $32.60. The business has a fifty day moving average of $18.19 and a 200 day moving average of $18.65. The company has a market capitalization of $3.10 billion, a PE ratio of -20.46 and a beta of 0.75. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping 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 company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period last year, the firm posted ($0.46) EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that NovoCure Limited will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVCR. HC Wainwright reissued a "buy" rating and set a $38.00 target price (up from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Wedbush reiterated a "neutral" rating and issued a $29.00 price objective (up previously from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Finally, Evercore ISI upgraded shares of 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.