Taylor Frigon Capital Management LLC Acquires 26,748 Shares of NovoCure Limited (NASDAQ:NVCR)

Taylor Frigon Capital Management LLC raised its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 160,046 shares of the medical equipment provider’s stock after acquiring an additional 26,748 shares during the period. NovoCure makes up 1.2% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 29th largest position. Taylor Frigon Capital Management LLC’s holdings in NovoCure were worth $2,501,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new stake in shares of NovoCure during the second quarter worth $28,000. Signaturefd LLC grew its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NovoCure in the 2nd quarter valued at about $34,000. Fifth Third Bancorp acquired a new stake in shares of NovoCure in the 2nd quarter valued at approximately $43,000. Finally, GAMMA Investing LLC raised its position in shares of NovoCure by 278.0% in the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 2,118 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Up 1.6 %

NVCR traded up $0.26 during trading on Thursday, hitting $16.44. The company had a trading volume of 188,025 shares, compared to its average volume of 1,315,941. The company has a market capitalization of $1.78 billion, a PE ratio of -10.24 and a beta of 0.70. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. NovoCure Limited has a one year low of $10.87 and a one year high of $24.74. The firm’s 50-day moving average price is $16.95 and its 200 day moving average price is $17.79.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. The company had revenue of $150.40 million for the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.54) earnings per share. As a group, equities analysts expect that NovoCure Limited will post -1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Evercore ISI decreased their price target 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. HC Wainwright raised NovoCure from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $30.00 in a research note on Wednesday, October 16th. Finally, Wedbush reissued an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.17.

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.