Venturi Wealth Management LLC Acquires 1,354 Shares of NovoCure Limited (NASDAQ:NVCR)

Venturi Wealth Management LLC lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 58.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,669 shares of the medical equipment provider’s stock after acquiring an additional 1,354 shares during the quarter. Venturi Wealth Management LLC’s holdings in NovoCure were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Lombard Odier Asset Management USA Corp lifted its stake in NovoCure by 5.4% in the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after purchasing an additional 557 shares during the last quarter. Arizona State Retirement System raised its stake in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after buying an additional 581 shares during the period. Signaturefd LLC lifted its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of NovoCure during the 2nd quarter worth $28,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on NVCR. Wells Fargo & Company dropped their price objective 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. Wedbush restated an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a research note on Thursday, October 31st. Finally, Evercore ISI dropped their target price on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure currently has an average rating of “Moderate Buy” and a consensus target price of $26.17.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $16.11 on Friday. The company has a 50 day moving average of $16.57 and a 200 day moving average of $18.21. 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 stock has a market cap of $1.74 billion, a P/E ratio of -11.51 and a beta of 0.71. NovoCure Limited has a 12 month low of $11.29 and a 12 month high of $24.74.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating 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 firm had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. During the same period in the previous year, the business earned ($0.46) EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that NovoCure Limited will post -1.31 EPS for the current fiscal year.

About NovoCure

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.