BNP Paribas Financial Markets Has $2.75 Million Stock Position in NovoCure Limited (NASDAQ:NVCR)

BNP Paribas Financial Markets reduced its stake in NovoCure Limited (NASDAQ:NVCR) by 24.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,926 shares of the medical equipment provider’s stock after selling 56,898 shares during the quarter. BNP Paribas Financial Markets owned about 0.16% of NovoCure worth $2,750,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lombard Odier Asset Management USA Corp increased its stake in shares of NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock worth $186,000 after purchasing an additional 557 shares during the period. Arizona State Retirement System lifted its holdings in shares of NovoCure by 2.1% during the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares in the last quarter. Signaturefd LLC boosted its position in shares of NovoCure by 61.7% in the second 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 701 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on NVCR shares. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $30.00 in a research report on Monday. Wedbush reiterated a “neutral” rating and set a $29.00 target price (up from $24.00) on shares of NovoCure in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research report on Monday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and an average target price of $30.33.

NovoCure Price Performance

Shares of NVCR stock opened at $26.60 on Friday. The business has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $18.64. The company has a market cap of $2.88 billion, a P/E ratio of -19.00 and a beta of 0.75. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a twelve month low of $11.66 and a twelve month high of $32.60.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.46) earnings per share. On average, sell-side analysts forecast that NovoCure Limited will post -1.31 EPS 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.