Handelsbanken Fonder AB Purchases 5,000 Shares of NovoCure Limited (NASDAQ:NVCR)

Handelsbanken Fonder AB increased its position in NovoCure Limited (NASDAQ:NVCR) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,223 shares of the medical equipment provider’s stock after purchasing an additional 5,000 shares during the period. Handelsbanken Fonder AB’s holdings in NovoCure were worth $535,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NVCR. Ridgewood Investments LLC bought a new position in shares of NovoCure in the second quarter valued at $28,000. Signaturefd LLC raised its holdings in shares of NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure in the 2nd quarter valued at about $34,000. Fifth Third Bancorp acquired a new position in NovoCure during the 2nd quarter valued at about $43,000. Finally, GAMMA Investing LLC increased its holdings in NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 2,118 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Trading Up 5.9 %

Shares of NovoCure stock opened at $15.75 on Monday. The stock has a fifty day moving average price of $17.29 and a 200-day moving average price of $17.70. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The firm has a market cap of $1.69 billion, a PE ratio of -8.70 and a beta of 0.70. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $24.74.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.09. The business 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 company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Equities research analysts anticipate that NovoCure Limited will post -1.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVCR. Wells Fargo & Company dropped their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Evercore ISI dropped their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. HC Wainwright upped their target price 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, Wedbush reissued an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.17.

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.