Vanguard Group Inc. Sells 296,555 Shares of NovoCure Limited $NVCR

Vanguard Group Inc. decreased its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,455,841 shares of the medical equipment provider’s stock after selling 296,555 shares during the quarter. Vanguard Group Inc. owned about 9.34% of NovoCure worth $135,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVCR. Arizona State Retirement System boosted its position in NovoCure by 3.0% in the third quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 916 shares in the last quarter. Rhumbline Advisers raised its position in shares of NovoCure by 1.2% during the second quarter. Rhumbline Advisers now owns 152,749 shares of the medical equipment provider’s stock worth $2,719,000 after acquiring an additional 1,797 shares during the last quarter. Choreo LLC grew its holdings in NovoCure by 15.0% during the 2nd quarter. Choreo LLC now owns 15,247 shares of the medical equipment provider’s stock worth $271,000 after acquiring an additional 1,994 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NovoCure by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in NovoCure by 2.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 139,900 shares of the medical equipment provider’s stock worth $2,490,000 after buying an additional 3,000 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVCR has been the topic of several analyst reports. HC Wainwright boosted their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of NovoCure in a report on Thursday, January 15th. Finally, Evercore set a $20.00 target price on shares of NovoCure in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.93.

NovoCure Stock Down 1.6%

Shares of NASDAQ NVCR opened at $13.30 on Wednesday. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $21.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55. The company’s 50 day moving average price is $12.73 and its 200-day moving average price is $12.69. The company has a market capitalization of $1.51 billion, a P/E ratio of -10.90 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.19. NovoCure had a negative return on equity of 38.82% and a negative net margin of 20.79%.The firm had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.

NovoCure Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.