Quantbot Technologies LP Has $2.53 Million Stock Holdings in NovoCure Limited $NVCR

Quantbot Technologies LP grew its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 163.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 195,515 shares of the medical equipment provider’s stock after acquiring an additional 121,354 shares during the quarter. Quantbot Technologies LP’s holdings in NovoCure were worth $2,526,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NVCR. Arizona State Retirement System raised its holdings in NovoCure by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock worth $405,000 after buying an additional 916 shares during the period. Rhumbline Advisers increased its position in shares of NovoCure by 1.2% in 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 in the last quarter. Choreo LLC raised its holdings in shares of NovoCure by 15.0% during the second quarter. Choreo LLC now owns 15,247 shares of the medical equipment provider’s stock valued at $271,000 after acquiring an additional 1,994 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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. Finally, Hillsdale Investment Management Inc. boosted its stake in NovoCure by 2.2% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 139,900 shares of the medical equipment provider’s stock worth $2,490,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NVCR shares. Evercore set a $20.00 price objective on shares of NovoCure in a research report on Monday, January 5th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research report on Thursday, January 15th. HC Wainwright upped their price target on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NovoCure presently has a consensus rating of “Hold” and a consensus target price of $26.93.

NovoCure Trading Down 1.6%

NovoCure stock opened at $13.30 on Wednesday. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $21.55. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.51 billion, a P/E ratio of -10.90 and a beta of 0.71. The company’s fifty day simple moving average is $12.73 and its 200-day simple moving average is $12.69.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping 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 business had revenue of $174.35 million during the quarter, compared to analyst estimates of $174.40 million. During the same period last year, the company earned ($0.61) earnings per share. NovoCure’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal 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.