Two Sigma Advisers LP Trims Stake in NovoCure Limited (NASDAQ:NVCR)

Two Sigma Advisers LP cut its position in shares of NovoCure Limited (NASDAQ:NVCR) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 586,000 shares of the medical equipment provider’s stock after selling 377,900 shares during the period. Two Sigma Advisers LP owned about 0.54% of NovoCure worth $17,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after acquiring an additional 1,575 shares in the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares during the period. KBC Group NV raised its holdings in shares of NovoCure by 65.1% in the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 2,008 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of NovoCure by 10.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,943 shares of the medical equipment provider’s stock valued at $684,000 after purchasing an additional 2,129 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of NovoCure in the 4th quarter worth approximately $251,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVCR shares. Wedbush cut their price objective on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Piper Sandler reduced their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.83.

NovoCure Stock Performance

Shares of NVCR opened at $17.75 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.98 billion, a PE ratio of -12.68 and a beta of 0.73. NovoCure Limited has a 12 month low of $14.17 and a 12 month high of $34.13. The stock has a fifty day moving average price of $17.57 and a 200-day moving average price of $21.80.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. The company had revenue of $154.99 million during the quarter, compared to analysts’ expectations of $147.57 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 11.9% compared to the same quarter last year. During the same period last year, the business posted ($0.36) earnings per share. Equities research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

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.