Campbell & CO Investment Adviser LLC Invests $715,000 in NovoCure Limited $NVCR

Campbell & CO Investment Adviser LLC bought a new stake in NovoCure Limited (NASDAQ:NVCR) in the second quarter, Holdings Channel reports. The institutional investor bought 40,191 shares of the medical equipment provider’s stock, valued at approximately $715,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NovoCure by 154.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock valued at $31,758,000 after buying an additional 1,080,514 shares during the period. Nuveen LLC bought a new stake in NovoCure in the first quarter valued at about $12,363,000. Palo Alto Investors LP raised its position in NovoCure by 23.1% in the first quarter. Palo Alto Investors LP now owns 1,002,061 shares of the medical equipment provider’s stock worth $17,857,000 after purchasing an additional 187,870 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in NovoCure during the first quarter worth about $1,871,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NovoCure by 22.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 534,749 shares of the medical equipment provider’s stock valued at $9,529,000 after purchasing an additional 96,977 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVCR. JPMorgan Chase & Co. dropped their target price on NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. HC Wainwright boosted their target price on shares of NovoCure from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.50 target price (down previously from $40.00) on shares of NovoCure in a research report on Friday, July 25th. Finally, Wedbush restated a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research report on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.36.

Insider Buying and Selling at NovoCure

In other news, CEO Ashley Cordova acquired 81,550 shares of NovoCure stock in a transaction on Friday, September 5th. The shares were purchased at an average price of $12.22 per share, with a total value of $996,541.00. Following the acquisition, the chief executive officer owned 437,569 shares in the company, valued at $5,347,093.18. This represents a 22.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.52% of the stock is currently owned by corporate insiders.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $11.32 on Friday. The business has a fifty day moving average of $13.00 and a 200-day moving average of $14.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55. NovoCure Limited has a twelve month low of $10.70 and a twelve month high of $34.13. The firm has a market cap of $1.27 billion, a PE ratio of -7.03 and a beta of 0.80.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS 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 firm had revenue of $167.20 million for the quarter, compared to analyst estimates of $158.81 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

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.