Quantinno Capital Management LP Sells 102,925 Shares of NovoCure Limited (NASDAQ:NVCR)

Quantinno Capital Management LP trimmed its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 29.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 251,531 shares of the medical equipment provider's stock after selling 102,925 shares during the quarter. Quantinno Capital Management LP owned about 0.23% of NovoCure worth $3,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NVCR. Nordwand Advisors LLC lifted its position in NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock valued at $47,356,000 after purchasing an additional 1,514,824 shares during the period. Renaissance Technologies LLC boosted its stake in shares of NovoCure by 171.9% in the 2nd 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 last quarter. Panagora Asset Management Inc. grew its holdings in shares of NovoCure by 309.8% in the second quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider's stock worth $7,020,000 after acquiring an additional 309,805 shares during the period. AQR Capital Management LLC grew its holdings in shares of NovoCure by 234.2% in the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider's stock worth $7,391,000 after acquiring an additional 302,351 shares during the period. Finally, Bank of New York Mellon Corp increased its position in 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 valued at $7,194,000 after acquiring an additional 152,185 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

NovoCure Stock Performance

NASDAQ NVCR traded up $0.69 on Monday, reaching $28.65. 950,709 shares of the stock were exchanged, compared to its average volume of 1,333,790. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure Limited has a one year low of $11.66 and a one year high of $32.60. The firm has a market capitalization of $3.10 billion, a PE ratio of -19.97 and a beta of 0.75. The company's 50-day simple moving average is $17.93 and its two-hundred day simple moving average is $18.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company's revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned ($0.46) EPS. Analysts expect that NovoCure Limited will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVCR shares. Wedbush restated a "neutral" rating and set a $29.00 price target (up from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $38.00 price target (up from $30.00) 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.