115,929 Shares in NovoCure Limited (NASDAQ:NVCR) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 115,929 shares of the medical equipment provider’s stock, valued at approximately $1,812,000. Edgestream Partners L.P. owned approximately 0.11% of NovoCure at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NVCR. Nordwand Advisors LLC raised its position in shares of NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after buying an additional 1,514,824 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of NovoCure by 171.9% during the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after acquiring an additional 480,600 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of NovoCure by 309.8% during the second quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider’s stock worth $7,020,000 after purchasing an additional 309,805 shares in the last quarter. AQR Capital Management LLC increased its position in shares of NovoCure by 234.2% in the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock worth $7,391,000 after purchasing an additional 302,351 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in NovoCure by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider’s stock valued at $7,194,000 after purchasing an additional 152,185 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Trading Up 2.2 %

NVCR opened at $30.51 on Wednesday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.79 and a beta of 0.75. NovoCure Limited has a one year low of $11.66 and a one year high of $32.60. The business has a 50 day simple moving average of $17.19 and a two-hundred day simple moving average of $18.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.46) earnings per share. Analysts predict that NovoCure Limited will post -1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVCR. Wedbush reaffirmed a “neutral” rating and set a $29.00 price objective (up from $24.00) on shares of NovoCure in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target (up from $30.00) on shares of NovoCure in a research note on Monday. Finally, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a research note on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, NovoCure has an average rating of “Moderate Buy” and an average target price of $30.33.

NovoCure Profile

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.