Charles Schwab Investment Management Inc. Has $12.89 Million Stock Position in NovoCure Limited (NASDAQ:NVCR)

Charles Schwab Investment Management Inc. raised its stake in NovoCure Limited (NASDAQ:NVCR) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 824,443 shares of the medical equipment provider’s stock after purchasing an additional 16,339 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in NovoCure were worth $12,886,000 at the end of the most recent reporting period.

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

NovoCure Price Performance

Shares of NVCR opened at $27.96 on Monday. The stock has a market cap of $3.03 billion, a P/E ratio of -19.97 and a beta of 0.75. The business’s fifty day moving average is $17.93 and its 200 day moving average is $18.60. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 12-month low of $11.66 and a 12-month high of $32.60.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.46) EPS. Sell-side analysts anticipate that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVCR shares. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective (up from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Finally, Wedbush reissued a “neutral” rating and set a $29.00 target price (up from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. Two 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, NovoCure presently has an average rating of “Moderate Buy” and a consensus target price of $30.33.

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.