Connor Clark & Lunn Investment Management Ltd. Acquires 59,608 Shares of NovoCure Limited (NASDAQ:NVCR)

Connor Clark & Lunn Investment Management Ltd. raised its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 16.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 426,263 shares of the medical equipment provider's stock after purchasing an additional 59,608 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of NovoCure worth $6,662,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVCR. Vanguard Group Inc. grew its stake in shares of NovoCure by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider's stock worth $156,675,000 after purchasing an additional 264,883 shares during the last quarter. Nordwand Advisors LLC grew its position in shares of NovoCure by 100.0% in the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock worth $47,356,000 after buying an additional 1,514,824 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of NovoCure by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider's stock valued at $37,184,000 after buying an additional 125,715 shares during the period. Renaissance Technologies LLC raised its holdings in shares of NovoCure by 171.9% during the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock valued at $13,022,000 after acquiring an additional 480,600 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in NovoCure by 5.8% in the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock worth $12,726,000 after acquiring an additional 40,870 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore ISI reduced their price objective on shares of NovoCure from $21.00 to $18.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 1st. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of NovoCure in a research note on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of NovoCure from $42.00 to $40.00 and set an "overweight" rating for the company in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.17.

NovoCure Stock Up 3.7 %

NASDAQ:NVCR traded up $0.64 during mid-day trading on Friday, hitting $17.73. 657,824 shares of the company's stock were exchanged, compared to its average volume of 913,088. The company has a market cap of $1.92 billion, a PE ratio of -12.66 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a one year low of $11.29 and a one year high of $24.74. The business has a fifty day moving average price of $16.50 and a 200 day moving average price of $18.35.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analysts' expectations of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. Equities analysts predict that NovoCure Limited will post -1.31 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.