Semanteon Capital Management LP Makes New Investment in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 73,729 shares of the medical equipment provider's stock, valued at approximately $1,152,000. Semanteon Capital Management LP owned 0.07% of NovoCure as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in NovoCure during the 2nd quarter valued at about $28,000. Signaturefd LLC raised its holdings in NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NovoCure in the second quarter worth approximately $34,000. Fifth Third Bancorp acquired a new position in shares of NovoCure during the 2nd quarter valued at $43,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of NovoCure in the 2nd quarter worth $48,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVCR shares. Wedbush reaffirmed an "outperform" rating and set a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Wells Fargo & Company cut their price target on shares of NovoCure from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, July 26th. Evercore ISI decreased their price objective on shares of NovoCure from $21.00 to $18.00 and set an "in-line" rating for the company in a research note on Tuesday, October 1st. Finally, HC Wainwright raised shares of NovoCure from a "neutral" rating to a "buy" rating and boosted their target price for the company from $24.00 to $30.00 in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, NovoCure presently has an average rating of "Moderate Buy" and a consensus target price of $26.17.

NovoCure Stock Down 0.7 %

NovoCure stock traded down $0.12 during trading hours on Monday, hitting $16.62. The company had a trading volume of 1,070,073 shares, compared to its average volume of 1,314,316. NovoCure Limited has a fifty-two week low of $10.87 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The firm has a market capitalization of $1.80 billion, a P/E ratio of -10.52 and a beta of 0.70. The firm's fifty day moving average is $16.85 and its 200-day moving average is $17.86.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.09. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The business had revenue of $150.40 million for the quarter, compared to the consensus estimate of $135.83 million. During the same period in the prior year, the business posted ($0.54) earnings per share. NovoCure's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, research analysts forecast that NovoCure Limited will post -1.35 earnings per share for the current 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.