Entropy Technologies LP Makes New $225,000 Investment in NovoCure Limited $NVCR

Entropy Technologies LP bought a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,643 shares of the medical equipment provider’s stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of NVCR. Mirae Asset Global Investments Co. Ltd. grew its holdings in NovoCure by 17.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock worth $77,000 after acquiring an additional 629 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of NovoCure by 6.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 1,400 shares in the last quarter. Kera Capital Partners Inc. grew its stake in shares of NovoCure by 22.6% during the 2nd quarter. Kera Capital Partners Inc. now owns 13,319 shares of the medical equipment provider’s stock worth $237,000 after purchasing an additional 2,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $1,336,000 after purchasing an additional 2,502 shares during the period. Finally, Choreo LLC increased its holdings in shares of NovoCure by 58.7% in the 1st quarter. Choreo LLC now owns 13,253 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 4,903 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on NVCR shares. HC Wainwright boosted their price objective on shares of NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wedbush reiterated a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Tuesday, September 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.36.

NovoCure Stock Performance

Shares of NVCR opened at $12.76 on Thursday. NovoCure Limited has a 12-month low of $10.70 and a 12-month high of $34.13. The stock has a market cap of $1.43 billion, a P/E ratio of -7.93 and a beta of 0.80. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $12.90 and a two-hundred day moving average of $14.34.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The business had revenue of $167.20 million during the quarter, compared to analysts’ expectations of $158.81 million. During the same period last year, the company posted ($0.28) EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ashley Cordova purchased 81,550 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was bought at an average cost of $12.22 per share, with a total value of $996,541.00. Following the completion of the acquisition, the chief executive officer directly owned 437,569 shares in the company, valued at $5,347,093.18. The trade was a 22.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.52% of the company’s stock.

About NovoCure

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.