MetLife Investment Management LLC Has $963,000 Holdings in NovoCure Limited (NASDAQ:NVCR)

MetLife Investment Management LLC boosted its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 129.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,603 shares of the medical equipment provider's stock after purchasing an additional 34,711 shares during the period. MetLife Investment Management LLC owned about 0.06% of NovoCure worth $963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in shares of NovoCure during the second quarter worth approximately $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 worth $28,000 after purchasing an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NovoCure in the 2nd quarter valued at about $34,000. Fifth Third Bancorp bought a new position in shares of NovoCure during the second quarter worth about $43,000. Finally, Nisa Investment Advisors LLC acquired a new position in NovoCure in the second quarter worth about $48,000. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Stock Performance

NASDAQ NVCR traded up $1.36 during trading hours on Friday, hitting $27.96. The company had a trading volume of 1,231,641 shares, compared to its average volume of 1,583,603. The firm has a market cap of $3.03 billion, a P/E ratio of -19.97 and a beta of 0.75. The business has a fifty day simple moving average of $17.93 and a 200-day simple moving average of $18.67. 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 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 released its quarterly earnings results 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 return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same quarter in the prior year, the company posted ($0.46) EPS. The firm's revenue was up 21.8% on a year-over-year basis. Equities analysts predict that NovoCure Limited will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wedbush restated a "neutral" rating and set a $29.00 price objective (up previously from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. 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 research note on Monday, December 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $38.00 price target (up from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.