NovoCure Limited (NASDAQ:NVCR) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its position in NovoCure Limited (NASDAQ:NVCR) by 1.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,659,314 shares of the medical equipment provider’s stock after selling 28,207 shares during the period. Baillie Gifford & Co. owned 1.53% of NovoCure worth $25,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in NovoCure during the second quarter worth about $28,000. Signaturefd LLC grew its position in NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NovoCure during the second quarter valued at about $34,000. Fifth Third Bancorp purchased a new position in NovoCure during the 2nd quarter valued at about $43,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of NovoCure in the second quarter valued at $48,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NVCR shares. Wells Fargo & Company decreased their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a research note on Thursday, October 31st. Finally, Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

NovoCure Stock Down 2.0 %

Shares of NovoCure stock opened at $17.82 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business has a 50 day moving average price of $16.56 and a 200 day moving average price of $18.18. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $24.74.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. During the same quarter last year, the business posted ($0.46) EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that NovoCure Limited will post -1.31 earnings per share for the current year.

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.