Novocure Ltd (NVCR) Holdings Reduced by Axa
Axa trimmed its position in shares of Novocure Ltd (NASDAQ:NVCR) by 35.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,900 shares of the medical equipment provider’s stock after selling 8,700 shares during the quarter. Axa’s holdings in Novocure were worth $833,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVCR. FMR LLC boosted its stake in Novocure by 12.6% during the second quarter. FMR LLC now owns 7,862,121 shares of the medical equipment provider’s stock worth $246,084,000 after buying an additional 881,776 shares during the period. BlackRock Inc. boosted its stake in Novocure by 22.4% during the second quarter. BlackRock Inc. now owns 4,620,546 shares of the medical equipment provider’s stock worth $144,623,000 after buying an additional 846,277 shares during the period. Granite Investment Partners LLC purchased a new position in Novocure during the second quarter worth $16,497,000. Macquarie Group Ltd. boosted its stake in Novocure by 652.7% during the second quarter. Macquarie Group Ltd. now owns 584,129 shares of the medical equipment provider’s stock worth $18,283,000 after buying an additional 506,526 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Novocure by 276.3% during the second quarter. Renaissance Technologies LLC now owns 682,603 shares of the medical equipment provider’s stock worth $21,365,000 after buying an additional 501,203 shares during the period. 58.58% of the stock is owned by institutional investors.
NVCR has been the subject of a number of recent analyst reports. Deutsche Bank set a $44.00 target price on shares of Novocure and gave the company a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research lowered shares of Novocure from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Wells Fargo & Co boosted their target price on shares of Novocure from $53.00 to $58.00 and gave the company a “positive” rating in a research note on Wednesday, September 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novocure in a research note on Sunday, September 16th. Finally, Wedbush reissued an “outperform” rating and set a $40.00 target price (down from $50.00) on shares of Novocure in a research note on Friday, September 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.00.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.02. The firm had revenue of $64.76 million during the quarter, compared to analyst estimates of $65.61 million. Novocure had a negative net margin of 25.37% and a negative return on equity of 52.72%. Analysts predict that Novocure Ltd will post -0.68 EPS for the current year.
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Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.
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