NovoCure Limited (NASDAQ:NVCR) Insider Sells $12,789.90 in Stock

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 810 shares of NovoCure stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $15.79, for a total transaction of $12,789.90. Following the sale, the insider now directly owns 110,093 shares of the company’s stock, valued at approximately $1,738,368.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $18.10 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.96 billion, a P/E ratio of -12.93 and a beta of 0.71. The stock has a 50 day moving average of $16.66 and a two-hundred day moving average of $18.02. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $24.74.

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

Institutional Investors Weigh In On NovoCure

Hedge funds have recently made changes to their positions in the business. Lombard Odier Asset Management USA Corp raised its stake in NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after acquiring an additional 557 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of NovoCure by 2.1% during the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after purchasing an additional 581 shares during the period. Signaturefd LLC grew its position in NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares during the period. Finally, Venturi Wealth Management LLC raised its position in NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.