NovoCure Limited (NASDAQ:NVCR) Stock Holdings Trimmed by US Bancorp DE

US Bancorp DE decreased its holdings in NovoCure Limited (NASDAQ:NVCR) by 17.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,757 shares of the medical equipment provider’s stock after selling 1,246 shares during the quarter. US Bancorp DE’s holdings in NovoCure were worth $90,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in NovoCure in the 2nd quarter valued at about $28,000. Signaturefd LLC increased its stake in shares of NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NovoCure in the second quarter worth approximately $34,000. Fifth Third Bancorp bought a new position in NovoCure during the 2nd quarter valued at $43,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of NovoCure in the 2nd quarter worth $48,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of NovoCure in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Wells Fargo & Company cut their price objective on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Evercore ISI cut their target price on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Stock Down 2.8 %

NVCR stock opened at $16.11 on Friday. The company has a 50 day moving average of $16.56 and a two-hundred day moving average of $18.23. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 12-month low of $11.29 and a 12-month high of $24.74. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -11.51 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. During the same quarter last year, the firm earned ($0.46) earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities analysts anticipate that NovoCure Limited will post -1.31 earnings per share for the current fiscal year.

About NovoCure

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.