Edgestream Partners L.P. Increases Holdings in NovoCure Limited $NVCR

Edgestream Partners L.P. raised its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 30.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,329 shares of the medical equipment provider’s stock after purchasing an additional 48,057 shares during the period. Edgestream Partners L.P. owned 0.19% of NovoCure worth $3,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVCR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NovoCure by 154.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock valued at $31,758,000 after acquiring an additional 1,080,514 shares in the last quarter. American Century Companies Inc. boosted its holdings in NovoCure by 1,354.7% in the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after acquiring an additional 959,079 shares in the last quarter. Nuveen LLC purchased a new position in NovoCure during the 1st quarter valued at $12,363,000. Palo Alto Investors LP raised its holdings in NovoCure by 23.1% in the 1st quarter. Palo Alto Investors LP now owns 1,002,061 shares of the medical equipment provider’s stock worth $17,857,000 after purchasing an additional 187,870 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in NovoCure by 22.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 534,749 shares of the medical equipment provider’s stock worth $9,529,000 after purchasing an additional 96,977 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ashley Cordova acquired 81,550 shares of NovoCure stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $12.22 per share, with a total value of $996,541.00. Following the transaction, the chief executive officer directly owned 437,569 shares in the company, valued at approximately $5,347,093.18. This represents a 22.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVCR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on NovoCure from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. reduced their target price on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.92.

NovoCure Trading Up 8.2%

NASDAQ:NVCR opened at $11.81 on Thursday. The firm has a market capitalization of $1.32 billion, a P/E ratio of -7.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. NovoCure Limited has a one year low of $10.70 and a one year high of $34.13. The company’s 50-day simple moving average is $12.81 and its 200 day simple moving average is $14.14.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The business had revenue of $167.20 million during the quarter, compared to the consensus estimate of $158.81 million. During the same quarter last year, the firm earned ($0.28) earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.