UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 84,606 Shares of NovoCure Limited (NASDAQ:NVCR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 907,999 shares of the medical equipment provider's stock after purchasing an additional 84,606 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.84% of NovoCure worth $14,192,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lombard Odier Asset Management USA Corp increased its stake in shares of NovoCure by 5.4% in the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider's stock valued at $186,000 after buying an additional 557 shares in the last quarter. Arizona State Retirement System increased its position in NovoCure by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider's stock valued at $488,000 after acquiring an additional 581 shares in the last quarter. Signaturefd LLC raised its stake in shares of NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock worth $61,000 after acquiring an additional 701 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider's stock worth $57,000 after purchasing an additional 1,354 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NVCR shares. Wedbush restated a "neutral" rating and issued a $29.00 price objective (up previously from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, NovoCure presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

NovoCure Trading Up 5.1 %

Shares of NVCR stock traded up $1.36 during trading hours on Friday, reaching $27.96. The company had a trading volume of 1,231,641 shares, compared to its average volume of 1,583,603. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market cap of $3.03 billion, a price-to-earnings 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 50 day moving average of $17.93 and a 200 day moving average of $18.64.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same period in the previous year, the business earned ($0.46) earnings per share. The firm's quarterly revenue was up 21.8% on a year-over-year basis. On average, equities research analysts anticipate that NovoCure Limited will post -1.32 EPS 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.