XTX Topco Ltd Reduces Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

XTX Topco Ltd lowered its stake in NovoCure Limited (NASDAQ:NVCR) by 44.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,407 shares of the medical equipment provider’s stock after selling 14,602 shares during the quarter. XTX Topco Ltd’s holdings in NovoCure were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of NovoCure by 1.3% during 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 buying an additional 122,105 shares during the period. Franklin Resources Inc. bought a new position in shares of NovoCure in the 4th quarter worth approximately $811,000. SG Americas Securities LLC raised its position in shares of NovoCure by 57.3% in 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. Price T Rowe Associates Inc. MD lifted its stake in shares of NovoCure by 5.6% in the 1st 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 purchasing an additional 125,715 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of NovoCure during the first quarter valued at approximately $695,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Wedbush reissued an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. 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 report on Friday, July 26th. Finally, Evercore ISI lifted their target price on shares of NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, NovoCure presently has a consensus rating of “Hold” and an average target price of $25.50.

NovoCure Stock Down 1.9 %

NASDAQ:NVCR opened at $15.65 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. The firm has a market cap of $1.69 billion, a P/E ratio of -8.65 and a beta of 0.71. NovoCure Limited has a fifty-two week low of $10.87 and a fifty-two week high of $24.74. The firm has a 50-day simple moving average of $18.47 and a two-hundred day simple moving average of $17.59.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share 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 last year, the firm earned ($0.54) earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts predict that NovoCure Limited will post -1.34 earnings per share 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.