Insider Selling: NovoCure Limited (NASDAQ:NVCR) Insider Sells 810 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 810 shares of the 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 completion of the sale, the insider now owns 110,093 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website.

NovoCure Stock Up 2.5 %

NASDAQ:NVCR opened at $16.59 on Tuesday. The stock has a 50-day simple moving average of $16.72 and a 200 day simple moving average of $17.99. NovoCure Limited has a 52-week low of $10.87 and a 52-week high of $24.74. The company has a market cap of $1.80 billion, a PE ratio of -11.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.22 and a current ratio of 1.49.

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 the consensus estimate of ($0.34) by $0.06. The company 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%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned ($0.46) EPS. On average, sell-side analysts expect that NovoCure Limited will post -1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On NovoCure

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

Analyst Upgrades and Downgrades

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