NovoCure Limited (NASDAQ:NVCR) Shares Purchased by Holocene Advisors LP

Holocene Advisors LP raised its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 42.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 74,248 shares of the medical equipment provider's stock after purchasing an additional 22,276 shares during the period. Holocene Advisors LP owned 0.07% of NovoCure worth $1,160,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVCR. CWM LLC raised its holdings in shares of NovoCure by 182.3% during 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 raised its holdings in shares of NovoCure by 45.5% during 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 during the 2nd quarter worth $48,000. Fifth Third Bancorp acquired a new stake in shares of NovoCure during the 2nd quarter worth about $43,000. Finally, Bank of New York Mellon Corp increased its position in shares of NovoCure by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider's stock worth $7,194,000 after purchasing an additional 152,185 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

NovoCure Trading Up 5.1 %

NASDAQ NVCR traded up $1.36 during trading on Friday, hitting $27.96. The stock had a trading volume of 1,231,641 shares, compared to its average volume of 1,583,603. The firm has a 50 day moving average price of $17.93 and a 200 day moving average price of $18.64. NovoCure Limited has a twelve month low of $11.66 and a twelve month 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 company has a market capitalization of $3.03 billion, a PE ratio of -19.97 and a beta of 0.75.

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, 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 company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same period last year, the firm earned ($0.46) EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that NovoCure Limited will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

NVCR has been the subject of a number of recent analyst reports. Wedbush reissued a "neutral" rating and set a $29.00 price objective (up from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. HC Wainwright reissued a "buy" rating and set a $38.00 price objective (up from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Finally, Evercore ISI raised 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 research 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

NovoCure Company 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.