Schonfeld Strategic Advisors LLC Acquires Shares of 105,280 NovoCure Limited (NASDAQ:NVCR)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 105,280 shares of the medical equipment provider's stock, valued at approximately $3,137,000. Schonfeld Strategic Advisors LLC owned approximately 0.10% of NovoCure as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new stake in shares of NovoCure in the 4th quarter worth $27,000. Lindbrook Capital LLC increased its holdings in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its position in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in NovoCure during the 4th quarter valued at about $70,000. Finally, Versant Capital Management Inc lifted its stake in NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after acquiring an additional 880 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NVCR stock traded up $0.32 during trading hours on Wednesday, reaching $16.65. 948,871 shares of the company traded hands, compared to its average volume of 1,174,159. The firm has a 50-day moving average price of $18.00 and a 200 day moving average price of $21.73. The company has a market cap of $1.86 billion, a P/E ratio of -11.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a 12-month low of $14.17 and a 12-month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.16. The firm had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company's revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned ($0.36) EPS. As a group, sell-side analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped 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 reduced their price objective on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler dropped their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, StockNews.com lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.83.

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.