Rhumbline Advisers Acquires 37,364 Shares of NovoCure Limited (NASDAQ:NVCR)

Rhumbline Advisers grew its position in shares of NovoCure Limited (NASDAQ:NVCR) by 33.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,119 shares of the medical equipment provider’s stock after purchasing an additional 37,364 shares during the period. Rhumbline Advisers’ holdings in NovoCure were worth $2,572,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. nVerses Capital LLC boosted its stake in shares of NovoCure by 113.2% in the 2nd quarter. nVerses Capital LLC now owns 8,100 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 4,300 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of NovoCure by 51.3% during the second quarter. Van ECK Associates Corp now owns 23,868 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 8,094 shares in the last quarter. Signaturefd LLC lifted its position in NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 627 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in NovoCure by 5.0% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 133,298 shares of the medical equipment provider’s stock valued at $2,283,000 after acquiring an additional 6,384 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of NovoCure by 309.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider’s stock worth $7,020,000 after buying an additional 309,805 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Down 2.3 %

NASDAQ:NVCR opened at $17.61 on Thursday. The company has a current ratio of 6.46, a quick ratio of 6.22 and a debt-to-equity ratio of 1.81. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $24.74. The company has a market cap of $1.90 billion, a PE ratio of -9.73 and a beta of 0.71. The company’s 50 day moving average is $18.63 and its two-hundred day moving average is $17.58.

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

Analyst Upgrades and Downgrades

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