NovoCure Limited (NASDAQ:NVCR) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 40.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,083 shares of the medical equipment provider's stock after selling 76,339 shares during the quarter. PDT Partners LLC owned 0.10% of NovoCure worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 627 shares during the last quarter. Ridgewood Investments LLC bought a new position in NovoCure in the 2nd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure in the 2nd quarter valued at $34,000. Fifth Third Bancorp bought a new position in NovoCure in the 2nd quarter valued at $43,000. Finally, Brooklyn Investment Group bought a new position in NovoCure in the 3rd quarter valued at $45,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

NVCR has been the topic of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of NovoCure in a research report on Thursday, November 21st. Evercore ISI lowered their target price on NovoCure from $21.00 to $18.00 and set an "in-line" rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $26.17.

NovoCure Stock Up 1.8 %

Shares of NASDAQ NVCR traded up $0.35 during mid-day trading on Friday, reaching $20.04. 881,706 shares of the company were exchanged, compared to its average volume of 809,513. 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 stock has a market cap of $2.17 billion, a price-to-earnings ratio of -14.31 and a beta of 0.71. NovoCure Limited has a 1 year low of $11.66 and a 1 year high of $24.74. The firm has a 50-day moving average of $16.65 and a 200 day moving average of $18.39.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.46) earnings per share. On average, research analysts expect that NovoCure Limited will post -1.31 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.