Ensign Peak Advisors Inc Buys 2,400 Shares of NovoCure Limited (NASDAQ:NVCR)

Ensign Peak Advisors Inc boosted its stake in NovoCure Limited (NASDAQ:NVCR) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,137 shares of the medical equipment provider’s stock after purchasing an additional 2,400 shares during the quarter. Ensign Peak Advisors Inc’s holdings in NovoCure were worth $670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in NovoCure in the second quarter valued at about $28,000. Signaturefd LLC grew its stake in 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. Fifth Third Bancorp acquired a new position in NovoCure in the second quarter valued at about $43,000. Nisa Investment Advisors LLC acquired a new position in NovoCure in the second quarter valued at about $48,000. Finally, GAMMA Investing LLC grew its stake in NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 2,118 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI boosted their target price on NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. HC Wainwright boosted their target price on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research note on Thursday, July 25th. Finally, Wells Fargo & Company reduced 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, NovoCure has a consensus rating of “Hold” and a consensus price target of $25.50.

NovoCure Stock Down 0.3 %

NVCR stock opened at $15.61 on Friday. 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 stock has a market capitalization of $1.68 billion, a P/E ratio of -8.62 and a beta of 0.71. The business has a 50-day moving average of $18.36 and a 200-day moving average of $17.57. NovoCure Limited has a fifty-two week low of $10.87 and a fifty-two week high of $24.74.

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

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.