AQR Capital Management LLC Acquires 302,351 Shares of NovoCure Limited (NASDAQ:NVCR)

AQR Capital Management LLC lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 234.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,445 shares of the medical equipment provider’s stock after purchasing an additional 302,351 shares during the period. AQR Capital Management LLC owned 0.40% of NovoCure worth $7,391,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NVCR. Alpha DNA Investment Management LLC bought a new position in shares of NovoCure during the 2nd quarter worth approximately $349,000. Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure during the second quarter worth $34,000. Point72 Hong Kong Ltd grew its holdings in NovoCure by 1,403.1% in the second quarter. Point72 Hong Kong Ltd now owns 18,624 shares of the medical equipment provider’s stock worth $319,000 after purchasing an additional 17,385 shares during the period. Lombard Odier Asset Management USA Corp raised its holdings in shares of NovoCure by 5.4% during 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 period. Finally, Ensign Peak Advisors Inc boosted its position in shares of NovoCure by 6.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 39,137 shares of the medical equipment provider’s stock worth $670,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NVCR. Wells Fargo & Company dropped their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Evercore ISI lowered their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, HC Wainwright raised their price objective on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.17.

NovoCure Trading Down 6.2 %

NASDAQ NVCR opened at $14.54 on Friday. The company has a current ratio of 6.46, a quick ratio of 6.22 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $18.07 and a 200 day simple moving average of $17.59. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $24.74. The firm has a market capitalization of $1.56 billion, a P/E ratio of -8.03 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $150.40 million for the quarter, compared to analyst estimates of $135.83 million. During the same period last year, the firm earned ($0.54) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. On average, analysts predict that NovoCure Limited will post -1.34 EPS 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.