Raymond James & Associates reduced its holding in NovoCure Limited (NASDAQ:NVCR – Get Rating) shares by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,694 shares of the medical device maker after selling 792 shares during the quarter. Raymond James & Associates’ interests in NovoCure were valued at $1,344,000 at the time of the most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also changed their positions in the company. Cherry Creek Investment Advisors Inc. increased its stake in NovoCure shares by 2.4% during the second quarter. Cherry Creek Investment Advisors Inc. now owns 6,460 shares of the medical equipment maker, valued at $449,000, after purchasing an additional 150 shares during the period. Pictet Asset Management SA increased its stake in NovoCure by 0.4% in the second quarter. Pictet Asset Management SA now owns 39,391 shares of the medical equipment maker, valued at $2,738,000, after buying a further 151 shares last quarter. United Capital Financial Advisers LLC increased its stake in NovoCure by 2.2% in the second quarter. United Capital Financial Advisers LLC now owns 8,072 shares of the medical device maker, valued at $561,000, after purchasing an additional 172 shares last quarter. Xponance Inc. increased its stake in NovoCure by 1.7% in the third quarter. Xponance Inc. now owns 12,224 shares of the $929,000 medical device maker after buying another 202 shares last quarter. Finally, the Arizona State Retirement System increased its stake in NovoCure by 0.8% during the second quarter. The Arizona State Retirement System now owns 26,228 shares of the medical device maker, valued at $1,823,000, after buying another 219 shares last quarter. 78.42% of the shares are currently owned by institutional investors and hedge funds.
Wall Street analysts forecast growth
A number of research analysts have recently issued reports on NVCR stock. Piper Sandler raised her price target on NovoCure to $80.00 from $70.00 in a report on Tuesday, January 17th. Wells Fargo & Company lowered NovoCure from an “overweight” rating to an “balance” rating and raised its price target on the stock to $107.00 from $89.00 in a report on Friday, January 6. Truist Financial lowered its target price on NovoCure shares to $102.00 from $105.00 and gave the company a “buy” rating in a report dated Friday, October 28. JPMorgan Chase & Co. increased its price target on NovoCure shares to $99.00 from $86.00, giving the stock a “neutral” rating in a report on Friday, January 6. Finally, StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Two equities research analysts have assigned a sell rating to the stock, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $110.13.
Insider buying and selling
In related news, insider Uri Weinberg sold 8,143 shares of the company’s stock in a transaction that took place on Thursday, January 5th. The shares were sold at an average price of $116.14 for a total transaction of $945,728.02. Following the closing of the sale, the insider now directly owns 43,286 shares of the company’s stock valued at $5,027,236.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC’s website. In related news, insider Uri Weinberg sold 8,143 shares of the stock in a transaction that took place on Thursday, January 5th. The stock sold at an average price of $116.14 for a total value of $945,728.02. Following the transaction, the insider now owns 43,286 shares of the company’s stock valued at $5,027,236.04. The transaction was disclosed in a filing with the Securities & Exchange Commission available at this link. In addition, CEO Asaf Danziger sold 212,500 shares of the stock in a transaction that took place on Thursday, January 5th. The stock sold at an average price of $108.74 for a total value of $23,107,250.00. Upon completion of the transaction, the Chief Executive Officer now owns 13,583 shares of the Company, valued at approximately $1,477,015.42. The disclosure for this sale can be found here. 6.22% of the shares are currently owned by company insiders.
NovoCure stock down 0.1%
NVCR stock opened at $90.05 on Friday. NovoCure Limited has a 52-week low of $56.39 and a 52-week high of $120.03. The company has a gearing ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.62. The company has a market cap of $9.45 billion, a P/E of -116.95 and a beta of 0.78. The company’s 50-day simple moving average is $81.12 and its 200-day simple moving average is $78.54.
NovoCure (NASDAQ:NVCR – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The medical equipment maker reported earnings per share of ($0.25) for the quarter, beating analyst consensus estimates of ($0.30) by $0.05. The company had revenue of $131.00 million for the quarter compared to the consensus estimate of $134.83 million. NovoCure had a negative return on equity of 18.85% and a negative net margin of 15.05%. As a group, equity analysts expect NovoCure Limited to post -0.85 EPS for the year-to-date.
About NovoCure
(received rating)
NovoCure Limited, an oncology company, is engaged in the development, manufacture and marketing of TTFields (Tumor Treating Fields) devices for the treatment of solid tumors in the United States, Europe, the Middle East, Africa, Japan and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.
See also
Want to see what other hedge funds are holding NVCR? Visit HoldingsChannel.com for the latest 13F filings and insider trading for NovoCure Limited (NASDAQ:NVCR – Get Rating).
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