Legato Capital Management LLC Takes $952,000 Position in NovoCure Limited (NASDAQ:NVCR)

Legato Capital Management LLC bought a new position in NovoCure Limited (NASDAQ:NVCR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 55,567 shares of the medical equipment provider’s stock, valued at approximately $952,000. Legato Capital Management LLC owned approximately 0.05% of NovoCure at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of NovoCure in the second quarter worth about $43,000. GAMMA Investing LLC raised its stake in NovoCure by 278.0% in the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 2,118 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in NovoCure in the 2nd quarter worth $48,000. Versant Capital Management Inc grew its position in NovoCure by 2,917.0% during the 2nd quarter. Versant Capital Management Inc now owns 3,017 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 2,917 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of NovoCure by 1,113.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock valued at $80,000 after acquiring an additional 4,700 shares during the period. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NovoCure stock traded down $0.26 on Tuesday, hitting $17.89. The company’s stock had a trading volume of 213,176 shares, compared to its average volume of 1,362,899. The firm has a market cap of $1.93 billion, a P/E ratio of -10.03 and a beta of 0.70. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average price of $18.55 and a 200-day moving average price of $17.33. NovoCure Limited has a one year low of $10.87 and a one year high of $24.74.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS 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 for the quarter, compared to the consensus estimate of $135.83 million. During the same quarter in the previous year, the company earned ($0.54) EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that NovoCure Limited will post -1.34 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVCR. Evercore ISI raised their price target on shares of NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Wedbush reaffirmed an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. Wells Fargo & Company lowered their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, HC Wainwright raised 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, NovoCure presently has an average rating of “Hold” and an average 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.