Venturi Wealth Management LLC Has $57,000 Position in NovoCure Limited (NASDAQ:NVCR)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in NovoCure during the 2nd quarter worth approximately $28,000. Signaturefd LLC raised its stake in NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in NovoCure in the second quarter valued at $34,000. Fifth Third Bancorp bought a new stake in NovoCure during the second quarter valued at $43,000. Finally, Nisa Investment Advisors LLC acquired a new stake in NovoCure during the 2nd quarter worth about $48,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NVCR. Evercore ISI cut 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. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of NovoCure in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.17.

NovoCure Stock Performance

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

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.46) EPS. Sell-side analysts predict that NovoCure Limited will post -1.31 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.