Quantinno Capital Management LP Buys 477,128 Shares of NovoCure Limited $NVCR

Quantinno Capital Management LP grew its stake in NovoCure Limited (NASDAQ:NVCR) by 23.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,487,376 shares of the medical equipment provider’s stock after buying an additional 477,128 shares during the period. Quantinno Capital Management LP’s holdings in NovoCure were worth $27,112,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after acquiring an additional 502,368 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in NovoCure by 25.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Morgan Stanley boosted its position in NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after purchasing an additional 4,153,741 shares during the period. Balyasny Asset Management L.P. grew its holdings in NovoCure by 38.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after purchasing an additional 634,925 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in NovoCure by 11.8% during the first quarter. Renaissance Technologies LLC now owns 1,551,554 shares of the medical equipment provider’s stock valued at $16,912,000 after purchasing an additional 163,800 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

NVCR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. JPMorgan Chase & Co. initiated coverage on shares of NovoCure in a research note on Monday, July 13th. They issued a “neutral” rating and a $17.00 target price on the stock. Zacks Research upgraded shares of NovoCure from a “strong sell” rating to a “hold” rating in a report on Friday, July 24th. Finally, Wedbush boosted their target price on shares of NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.20.

NovoCure Stock Performance

NVCR opened at $14.84 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -11.42 and a beta of 0.94. The stock’s 50 day moving average price is $16.45 and its two-hundred day moving average price is $14.19. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $21.45.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The company had revenue of $183.58 million for the quarter, compared to the consensus estimate of $172.44 million. During the same period in the previous year, the business posted ($0.36) EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts forecast that NovoCure Limited will post -1.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeryl L. Hilleman sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 13,861 shares of the company’s stock, valued at approximately $218,587.97. The trade was a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director directly owned 197,657 shares in the company, valued at $3,117,050.89. This trade represents a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock valued at $893,171 in the last 90 days. 5.52% of the stock is currently owned by corporate insiders.

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.