NovoCure Limited (NASDAQ:NVCR) Holdings Lowered by Two Sigma Advisers LP

Two Sigma Advisers LP cut its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 26.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 963,900 shares of the medical equipment provider's stock after selling 355,500 shares during the quarter. Two Sigma Advisers LP owned 0.89% of NovoCure worth $15,066,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nordwand Advisors LLC raised its position in shares of NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock worth $47,356,000 after purchasing an additional 1,514,824 shares during the period. Renaissance Technologies LLC increased its position in NovoCure by 171.9% in the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock worth $13,022,000 after buying an additional 480,600 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of NovoCure by 309.8% during the second quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider's stock valued at $7,020,000 after acquiring an additional 309,805 shares during the period. AQR Capital Management LLC boosted its holdings in shares of NovoCure by 234.2% during the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider's stock valued at $7,391,000 after acquiring an additional 302,351 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of NovoCure by 56.8% during the second quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider's stock worth $7,194,000 after acquiring an additional 152,185 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

NovoCure Price Performance

NovoCure stock traded up $0.69 during trading hours on Monday, hitting $28.65. 951,596 shares of the company traded hands, compared to its average volume of 1,334,873. The firm's 50-day simple moving average is $17.93 and its two-hundred day simple moving average is $18.60. The firm has a market cap of $3.10 billion, a P/E ratio of -19.97 and a beta of 0.75. NovoCure Limited has a 1-year low of $11.66 and a 1-year high of $32.60. 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 (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate 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 firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) earnings per share. As a group, analysts forecast that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NVCR has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating and issued a $38.00 price objective (up from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Wedbush reiterated a "neutral" rating and set a $29.00 price objective (up from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

NovoCure 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.