Semanteon Capital Management LP Decreases Stake in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP reduced its position in NovoCure Limited (NASDAQ:NVCR) by 82.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,276 shares of the medical equipment provider’s stock after selling 60,453 shares during the period. Semanteon Capital Management LP’s holdings in NovoCure were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares in the last quarter. Versant Capital Management Inc increased its stake in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after acquiring an additional 880 shares during the last quarter. Lindbrook Capital LLC increased its stake in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 1,213 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in NovoCure by 57.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock worth $129,000 after acquiring an additional 1,575 shares during the last quarter. Finally, KBC Group NV increased its stake in NovoCure by 65.1% during the fourth quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock worth $152,000 after acquiring an additional 2,008 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Trading Up 0.8 %

NVCR opened at $19.33 on Friday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -13.81 and a beta of 0.63. The stock’s 50 day moving average price is $22.47 and its 200-day moving average price is $21.54. NovoCure Limited has a one year low of $11.70 and a one year high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The business had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, equities analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analysts Forecast Growth

NVCR has been the topic of several analyst reports. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com raised NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday. Wedbush reissued a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler boosted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

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.