Voya Investment Management LLC Sells 64,539,786 Shares of NovoCure Limited $NVCR

Voya Investment Management LLC lowered its position in shares of NovoCure Limited (NASDAQ:NVCR) by 100.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,614 shares of the medical equipment provider’s stock after selling 64,539,786 shares during the quarter. Voya Investment Management LLC’s holdings in NovoCure were worth $240,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of NovoCure by 56.7% during the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 10,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NovoCure by 3.5% in the 1st 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 acquiring an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of NovoCure by 5.5% in the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after acquiring an additional 52,180 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NovoCure by 154.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock worth $31,758,000 after purchasing an additional 1,080,514 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of NovoCure during the first quarter valued at approximately $87,000. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 5.0%

Shares of NASDAQ:NVCR opened at $13.77 on Tuesday. The company has a 50 day moving average price of $12.44 and a two-hundred day moving average price of $13.33. 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 has a market capitalization of $1.54 billion, a PE ratio of -8.55 and a beta of 0.73. NovoCure Limited has a 52 week low of $10.70 and a 52 week high of $30.78.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $167.20 million during the quarter, compared to analyst estimates of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. Analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NVCR shares. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday, October 8th. HC Wainwright lifted their price objective on NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Evercore ISI set a $20.00 price target on shares of NovoCure in a research report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Tuesday, September 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.93.

NovoCure Company 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.