Semanteon Capital Management LP Sells 60,453 Shares of NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP lowered its position in NovoCure Limited (NASDAQ:NVCR) by 82.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,276 shares of the medical equipment provider’s stock after selling 60,453 shares during the period. Semanteon Capital Management LP’s holdings in NovoCure were worth $396,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NVCR. Franklin Resources Inc. grew its holdings in shares of NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after acquiring an additional 124,793 shares during the period. Edgestream Partners L.P. purchased a new position in NovoCure during the third quarter valued at $1,812,000. C WorldWide Group Holding A S lifted its position in NovoCure by 19.2% during the fourth quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock valued at $18,529,000 after purchasing an additional 100,000 shares in the last quarter. FMR LLC lifted its position in NovoCure by 0.6% during the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after purchasing an additional 90,422 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NovoCure by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock valued at $14,192,000 after purchasing an additional 84,606 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NovoCure stock opened at $19.33 on Friday. The stock’s 50-day simple moving average is $22.47 and its 200-day simple moving average is $21.54. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -13.81 and a beta of 0.63. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The business had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. As a group, analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVCR. Piper Sandler lifted their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Wedbush reiterated a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, NovoCure presently has an average rating of “Moderate Buy” and an average price target of $35.80.

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.