Jennison Associates LLC Invests $573,000 in NovoCure Limited (NASDAQ:NVCR)

Jennison Associates LLC purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,179 shares of the medical equipment provider's stock, valued at approximately $573,000.

Several other large investors have also recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. acquired a new position in shares of NovoCure during the 4th quarter worth approximately $81,643,000. Capital International Investors raised its position in shares of NovoCure by 12.0% during the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after purchasing an additional 951,141 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of NovoCure during the 4th quarter worth approximately $20,464,000. Capital World Investors raised its position in shares of NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after purchasing an additional 507,311 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of NovoCure by 39.1% during the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock worth $38,274,000 after purchasing an additional 360,841 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on NVCR shares. Wells Fargo & Company restated an "equal weight" rating and set a $14.50 price objective (down from $40.00) on shares of NovoCure in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Wall Street Zen cut shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. LADENBURG THALM/SH SH initiated coverage on shares of NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 target price for the company. Finally, Wedbush lowered their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.79.

NovoCure Trading Down 4.0%

Shares of NVCR traded down $0.50 during mid-day trading on Friday, reaching $12.04. The company had a trading volume of 3,951,547 shares, compared to its average volume of 1,307,440. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -7.72 and a beta of 0.72. The firm has a fifty day simple moving average of $17.29 and a 200-day simple moving average of $19.25. NovoCure Limited has a fifty-two week low of $11.57 and a fifty-two week high of $34.13. The company has a current ratio of 1.47, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.03. The business had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.36%. The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.31) EPS. On average, sell-side analysts anticipate that NovoCure Limited will post -1.3 EPS for the current fiscal year.

NovoCure Company 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.