Hussman Strategic Advisors Inc. Takes Position in NovoCure Limited (NASDAQ:NVCR)

Hussman Strategic Advisors Inc. bought a new position in NovoCure Limited (NASDAQ:NVCR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 105,000 shares of the medical equipment provider's stock, valued at approximately $1,871,000. Hussman Strategic Advisors Inc. owned 0.09% of NovoCure at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NVCR. GeoWealth Management LLC purchased a new stake in shares of NovoCure in the fourth quarter worth about $27,000. GF Fund Management CO. LTD. purchased a new stake in shares of NovoCure in the fourth quarter worth about $68,000. Wealthquest Corp purchased a new stake in shares of NovoCure in the first quarter worth about $129,000. AdvisorNet Financial Inc boosted its position in shares of NovoCure by 16.7% in the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock worth $187,000 after buying an additional 1,500 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in shares of NovoCure in the first quarter worth about $194,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVCR. LADENBURG THALM/SH SH began coverage on NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and issued a $34.00 price target on shares of NovoCure in a research note on Friday, June 27th. JPMorgan Chase & Co. cut their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Wedbush cut their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen cut NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.43.

NovoCure Stock Up 0.4%

NASDAQ NVCR traded up $0.07 on Monday, hitting $16.09. 351,328 shares of the stock traded hands, compared to its average volume of 1,124,224. The stock has a 50-day moving average of $17.60 and a 200 day moving average of $19.70. NovoCure Limited has a twelve month low of $14.17 and a twelve month high of $34.13. The company has a market capitalization of $1.79 billion, a P/E ratio of -10.66 and a beta of 0.72. 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 announced its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.16. NovoCure had a negative return on equity of 45.46% and a negative net margin of 26.41%. The firm had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. NovoCure's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that NovoCure Limited will post -1.3 earnings per share 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.