NovoCure Limited (NASDAQ:NVCR) Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 309.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 409,794 shares of the medical equipment provider’s stock after acquiring an additional 309,805 shares during the period. Panagora Asset Management Inc. owned 0.38% of NovoCure worth $7,020,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after purchasing an additional 122,105 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of NovoCure in the 4th quarter valued at $811,000. SG Americas Securities LLC raised its stake in NovoCure by 57.3% during the 1st quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider’s stock worth $5,619,000 after acquiring an additional 130,927 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in NovoCure in the fourth quarter valued at $195,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in NovoCure by 5.6% in 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 acquiring an additional 125,715 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Trading Down 1.6 %

NASDAQ:NVCR opened at $19.44 on Friday. The company has a current ratio of 6.46, a quick ratio of 6.22 and a debt-to-equity ratio of 1.81. The stock’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $17.40. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $24.74. The firm has a market cap of $2.09 billion, a P/E ratio of -10.74 and a beta of 0.70.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.09. The company had revenue of $150.40 million during the quarter, compared to the consensus estimate of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. NovoCure’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) EPS. Equities analysts anticipate that NovoCure Limited will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVCR. Evercore ISI raised their price target on NovoCure from $14.50 to $20.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, HC Wainwright raised their price objective on shares of NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.50.

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.