NovoCure Limited (NASDAQ:NVCR) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 24.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,926 shares of the medical equipment provider's stock after selling 56,898 shares during the period. BNP Paribas Financial Markets owned 0.16% of NovoCure worth $2,750,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of NovoCure by 182.3% during the second quarter. CWM LLC now owns 5,281 shares of the medical equipment provider's stock valued at $90,000 after buying an additional 3,410 shares during the period. AdvisorNet Financial Inc boosted its holdings 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 purchasing an additional 2,500 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of NovoCure in the second quarter valued at $48,000. Fifth Third Bancorp purchased a new stake in shares of NovoCure in the second quarter valued at $43,000. Finally, Bank of New York Mellon Corp increased its stake in NovoCure by 56.8% in the second 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVCR shares. HC Wainwright reissued a "buy" rating and issued a $38.00 price target (up from $30.00) on shares of NovoCure in a research note on Monday. Wedbush reissued a "neutral" rating and issued a $29.00 target price (up from $24.00) on shares of NovoCure in a research report on Monday. Finally, Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $18.00 to $30.00 in a report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, NovoCure presently has a consensus rating of "Moderate Buy" and an average price target of $30.33.

NovoCure Trading Up 5.1 %

Shares of NASDAQ:NVCR traded up $1.36 during trading on Friday, reaching $27.96. 1,231,641 shares of the stock were exchanged, compared to its average volume of 1,336,497. The firm's 50-day moving average price is $17.93 and its 200 day moving average price is $18.67. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -19.97 and a beta of 0.75. NovoCure Limited has a 12-month low of $11.66 and a 12-month high of $32.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $143.95 million. During the same period in the previous year, the firm earned ($0.46) earnings per share. NovoCure's revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that NovoCure Limited will post -1.31 earnings per share for the current fiscal year.

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.