NovoCure Limited (NASDAQ:NVCR) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP cut its stake in NovoCure Limited (NASDAQ:NVCR) by 26.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 963,900 shares of the medical equipment provider’s stock after selling 355,500 shares during the period. Two Sigma Advisers LP’s holdings in NovoCure were worth $15,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of NovoCure in the 2nd quarter worth approximately $28,000. Signaturefd LLC boosted its position in NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NovoCure in the second quarter valued at $34,000. Fifth Third Bancorp purchased a new position in shares of NovoCure in the second quarter valued at $43,000. Finally, Brooklyn Investment Group acquired a new position in shares of NovoCure during the 3rd quarter worth $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Trading Up 5.1 %

Shares of NVCR stock opened at $27.96 on Monday. NovoCure Limited has a twelve month low of $11.66 and a twelve month high of $32.60. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -19.97 and a beta of 0.75. The firm has a 50-day moving average price of $17.93 and a 200 day moving average price of $18.60. 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 (NASDAQ:NVCR) last posted its quarterly earnings data 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 business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the previous year, the business posted ($0.46) earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Research analysts forecast that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. 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. Finally, Wedbush reissued a “neutral” rating and set a $29.00 price objective (up from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.33.

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.