84,500 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 84,500 shares of the medical equipment provider's stock, valued at approximately $1,447,000. State of New Jersey Common Pension Fund D owned 0.08% of NovoCure as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC acquired a new stake in shares of NovoCure during the 2nd quarter worth $192,000. Arizona State Retirement System increased its stake in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider's stock valued at $488,000 after buying an additional 581 shares during the period. TD Asset Management Inc increased its position in NovoCure by 4.7% in the 2nd quarter. TD Asset Management Inc now owns 294,752 shares of the medical equipment provider's stock valued at $5,049,000 after acquiring an additional 13,252 shares during the period. Rhumbline Advisers raised its position in NovoCure by 33.1% during the 2nd quarter. Rhumbline Advisers now owns 150,119 shares of the medical equipment provider's stock worth $2,572,000 after purchasing an additional 37,364 shares during the last quarter. Finally, nVerses Capital LLC boosted its holdings in NovoCure by 113.2% in the second quarter. nVerses Capital LLC now owns 8,100 shares of the medical equipment provider's stock valued at $139,000 after acquiring an additional 4,300 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright upped their price target on shares of NovoCure from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Wells Fargo & Company decreased their target price on NovoCure from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, July 26th. Evercore ISI boosted their price target on NovoCure from $14.50 to $20.00 and gave the company an "in-line" rating in a research note on Tuesday, July 2nd. Finally, Wedbush reiterated an "outperform" rating and issued a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, NovoCure has a consensus rating of "Hold" and a consensus price target of $25.50.

NovoCure Stock Down 1.9 %

Shares of NASDAQ NVCR traded down $0.30 during midday trading on Thursday, hitting $15.65. 636,605 shares of the stock traded hands, compared to its average volume of 1,326,015. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. NovoCure Limited has a one year low of $10.87 and a one year high of $24.74. The business has a 50 day moving average price of $18.47 and a two-hundred day moving average price of $17.59. The company has a market cap of $1.69 billion, a PE ratio of -8.88 and a beta of 0.71.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.09. The business had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. NovoCure's quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.54) EPS. On average, equities analysts predict that NovoCure Limited will post -1.34 EPS for the current year.

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.