NovoCure Limited (NASDAQ:NVCR) Position Increased by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in NovoCure Limited (NASDAQ:NVCR) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,756 shares of the medical equipment provider’s stock after buying an additional 2,465 shares during the quarter. Tidal Investments LLC owned 0.05% of NovoCure worth $871,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVCR. Geode Capital Management LLC grew its holdings in shares of NovoCure by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after acquiring an additional 29,871 shares during the last quarter. Weiss Asset Management LP purchased a new position in NovoCure in the 3rd quarter worth about $735,000. IHT Wealth Management LLC purchased a new position in NovoCure in the 3rd quarter worth about $180,000. Holocene Advisors LP raised its holdings in NovoCure by 42.9% during the 3rd quarter. Holocene Advisors LP now owns 74,248 shares of the medical equipment provider’s stock worth $1,160,000 after buying an additional 22,276 shares during the period. Finally, Centiva Capital LP purchased a new stake in NovoCure during the third quarter valued at about $214,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Up 1.3 %

NovoCure stock opened at $30.80 on Friday. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The firm has a market cap of $3.33 billion, a PE ratio of -22.00 and a beta of 0.75. The firm’s 50 day moving average price is $21.12 and its two-hundred day moving average price is $19.23.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period in the prior year, the business posted ($0.46) earnings per share. NovoCure’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, research analysts predict that NovoCure Limited will post -1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVCR. HC Wainwright reissued a “buy” rating and issued a $38.00 target price (up from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Wedbush reiterated a “neutral” rating and set a $29.00 price objective (up from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

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.