Quantinno Capital Management LP Has $27.11 Million Stock Position in NovoCure Limited $NVCR

Key Points

• Quantinno Capital Management increased its NovoCure stake by 23.7% in the first quarter, purchasing 477,128 additional shares. Its 2.49 million-share position was valued at approximately $27.1 million, while institutional investors collectively owned 84.61% of the stock.
• NovoCure reported quarterly revenue of $183.6 million, up 15.6% year over year, and a loss of $0.13 per share that exceeded analysts’ expectations. The company remains unprofitable, with a negative net margin of 21.25%, and analysts expect a full-year loss of $1.27 per share.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $21.20 versus its recent price of $14.84. Insiders sold 51,943 shares worth roughly $893,000 over the past 90 days, primarily to cover tax obligations tied to equity awards.

Quantinno Capital Management LP increased its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,487,376 shares of the medical equipment provider's stock after purchasing an additional 477,128 shares during the quarter. Quantinno Capital Management LP owned approximately 2.15% of NovoCure worth $27,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NVCR. AQR Capital Management LLC increased its position in shares of NovoCure by 56.7% in the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider's stock worth $512,000 after acquiring an additional 10,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider's stock valued at $1,336,000 after purchasing an additional 2,502 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of NovoCure by 5.5% in the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider's stock valued at $17,707,000 after purchasing an additional 52,180 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of NovoCure in the first quarter worth $87,000. Finally, Prudential Financial Inc. purchased a new position in shares of NovoCure during the second quarter valued at $216,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.89 and a quick ratio of 2.70. NovoCure Limited has a one year low of $9.82 and a one year high of $21.45. The business's 50-day moving average price is $16.45 and its two-hundred day moving average price is $14.19. The company has a market capitalization of $1.73 billion, a P/E ratio of -11.42 and a beta of 0.94.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.20. The company had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The business's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned ($0.36) EPS. Analysts anticipate that NovoCure Limited will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at NovoCure

In related news, Director Allyson J. Ocean sold 2,945 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 11,324 shares of the company's stock, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeryl L. Hilleman sold 2,945 shares of NovoCure stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director owned 13,861 shares of the company's stock, valued at $218,587.97. This trade represents a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock valued at $893,171 in the last ninety days. 5.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NVCR shares. Evercore restated an "outperform" rating on shares of NovoCure in a research report on Friday, May 1st. Zacks Research raised shares of NovoCure from a "strong sell" rating to a "hold" rating in a research report on Friday, July 24th. Wedbush upped their price objective on shares of NovoCure from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of NovoCure from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 1st. Finally, HC Wainwright set a $32.00 target price on shares of NovoCure in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.20.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company's non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure's approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.

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