Semanteon Capital Management LP Purchases New Position in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 73,729 shares of the medical equipment provider’s stock, valued at approximately $1,152,000. Semanteon Capital Management LP owned approximately 0.07% of NovoCure at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of NovoCure in the 2nd quarter worth $28,000. Signaturefd LLC lifted its position in shares of NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NovoCure in the 2nd quarter worth about $34,000. Fifth Third Bancorp purchased a new stake in shares of NovoCure in the 2nd quarter worth about $43,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of NovoCure in the 2nd quarter worth about $48,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVCR. Wells Fargo & Company decreased their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. HC Wainwright upgraded shares of NovoCure from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $30.00 in a research note on Wednesday, October 16th. Finally, Evercore ISI reduced 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.17.

NovoCure Price Performance

Shares of NVCR stock traded up $0.40 during mid-day trading on Monday, hitting $17.14. The company had a trading volume of 23,507 shares, compared to its average volume of 1,309,284. NovoCure Limited has a 52-week low of $10.87 and a 52-week high of $24.74. The stock’s 50 day moving average price is $16.88 and its 200-day moving average price is $17.84. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The company has a market capitalization of $1.84 billion, a P/E ratio of -9.04 and a beta of 0.70.

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