2,777 Shares in NovoCure Limited (NASDAQ:NVCR) Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC purchased a new stake in NovoCure Limited (NASDAQ:NVCR) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,777 shares of the medical equipment provider’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVCR. AdvisorNet Financial Inc lifted its position in shares of NovoCure by 45.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 8,000 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 2,500 shares during the period. CWM LLC raised its holdings in shares of NovoCure by 182.3% during the second quarter. CWM LLC now owns 5,281 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 3,410 shares during the period. Versant Capital Management Inc boosted its position in shares of NovoCure by 2,917.0% during the 2nd quarter. Versant Capital Management Inc now owns 3,017 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 2,917 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of NovoCure in the 1st quarter valued at about $695,000. Finally, Jacobs Levy Equity Management Inc. increased its position in NovoCure by 305.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock valued at $7,428,000 after buying an additional 358,062 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

NovoCure Trading Up 6.1 %

NASDAQ NVCR opened at $18.02 on Monday. 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 business has a fifty day simple moving average of $18.58 and a 200 day simple moving average of $17.30. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $30.33. The firm has a market capitalization of $1.94 billion, a P/E ratio of -9.96 and a beta of 0.70.

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

Analysts Set New Price Targets

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

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.