73,729 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new stake in shares of NovoCure Limited (NASDAQ:NVCR) during the third quarter, Holdings Channel.com reports. The firm acquired 73,729 shares of the medical equipment provider’s stock, valued at approximately $1,152,000.

A number of other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of NovoCure by 20.1% during the third quarter. Taylor Frigon Capital Management LLC now owns 160,046 shares of the medical equipment provider’s stock valued at $2,501,000 after purchasing an additional 26,748 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of NovoCure by 20.6% during the third quarter. Exchange Traded Concepts LLC now owns 48,427 shares of the medical equipment provider’s stock valued at $757,000 after purchasing an additional 8,272 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of NovoCure by 17.1% during the third quarter. Handelsbanken Fonder AB now owns 34,223 shares of the medical equipment provider’s stock valued at $535,000 after purchasing an additional 5,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in NovoCure in the second quarter worth about $34,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVCR. Evercore ISI lowered their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. HC Wainwright upgraded shares of NovoCure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $30.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

NovoCure Trading Up 2.4 %

NVCR traded up $0.40 on Monday, hitting $17.14. The company had a trading volume of 23,507 shares, compared to its average volume of 1,309,284. The company has a current ratio of 6.46, a quick ratio of 6.22 and a debt-to-equity ratio of 1.81. The firm has a market cap of $1.84 billion, a P/E ratio of -9.04 and a beta of 0.70. The company’s fifty day moving average price is $16.88 and its 200 day moving average price is $17.84. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $24.74.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. The firm had revenue of $150.40 million during the quarter, compared to the consensus estimate of $135.83 million. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.54) earnings per share. As a group, equities analysts expect that NovoCure Limited will post -1.35 earnings per share for the current year.

NovoCure Company 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.