Truist Financial Corp increased its holding of NovoCure Limited (NASDAQ:NVCR – Get Rating) shares by 16.3% in the third quarter, according to its recent filing with the Securities and Exchange Commission. The fund owned 10,932 shares of the medical-device maker after purchasing an additional 1,530 shares during the quarter. Truist Financial Corp’s holdings in NovoCure were worth $831,000 at the end of the last reporting period.
A number of other institutional investors have been buying and selling shares of NVCR recently. Price T Rowe Associates Inc. MD increased its position in NovoCure by 10.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,331,367 shares of the medical equipment maker worth $162,030,000 after purchasing an additional 218,216 shares last quarter. UBS Asset Management Americas Inc. increased its position in NovoCure by 38.0% in the second quarter. UBS Asset Management Americas Inc. now owns 430,820 shares of the medical device maker, valued at $29,942,000, after buying another 118,577 shares last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its position in NovoCure by 4,220.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 116,564 shares of the medical equipment maker valued at $8,101,000 after purchasing an additional 113,866 shares last quarter. Vanguard Group Inc. increased its position in NovoCure by 1.3% in the first quarter. Vanguard Group Inc. now owns 7,997,688 shares of the medical device maker worth $662,609,000 after purchasing an additional 104,375 shares last quarter. Finally, Aviva PLC increased its position in NovoCure by 310.8% during the second quarter. Aviva PLC now owns 109,075 shares of the medical device maker, valued at $7,581,000, after purchasing an additional 82,524 shares last quarter. 78.42% of the shares are owned by hedge funds and other institutional investors.
Insider buying and selling
In related news, CEO Asaf Danziger sold 212,500 shares of the company’s shares in a transaction on Thursday, January 5. The shares were sold at an average price of $108.74 for a total value of $23,107,250.00. Upon completion of the sale, the Chief Executive Officer now owns 13,583 shares of the Company, valued at approximately $1,477,015.42. The sale was disclosed in a legal filing with the SEC available at this hyperlink. In other NovoCure news, on Thursday, January 5, insider Uri Weinberg sold 8,143 NovoCure shares in one transaction. The shares were sold at an average price of $116.14 for a total transaction of $945,728.02. Following the sale, the insider now owns 43,286 shares of the company’s stock valued at approximately $5,027,236.04. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In addition, CEO Asaf Danziger sold 212,500 NovoCure shares in a transaction on Thursday, January 5th. The stock sold at an average price of $108.74 for a total transaction of $23,107,250.00. Following the sale, the Chief Executive Officer now directly 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 owned by insiders.
NovoCure value for money
NASDAQ NVCR shares opened at $88.49 on Friday. The company has a market cap of $9.29 billion, a P/E of -114.92 and a beta of 0.78. The company has a 50-day moving average of $80.52 and a 200-day moving average of $78.14. The company has a debt to equity ratio of 1.27, a quick ratio of 7.62 and a current ratio of 7.81. NovoCure Limited has a yearly low of $56.39 and a yearly high of $120.03.
NovoCure (NASDAQ:NVCR – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The medical equipment maker reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. The company had revenue of $131.00 million for the quarter compared to analyst estimates of $134.83 million. NovoCure had a negative net margin of 15.05% and a negative return on equity of 18.85%. As a group, research analysts are forecasting that NovoCure Limited will report earnings per share of -0.85 for the current fiscal year.
Wall Street analyst ponders
A number of research companies have issued reports on NVCR. Piper Sandler raised the target price on NovoCure shares to $80.00 from $70.00 in a research report on Tuesday. StockNews.com downgraded shares of NovoCure to a “sell” rating from a “hold” rating in a report Tuesday, January 10th. 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. Wells Fargo & Company lowered shares of NovoCure from an “overweight” rating to an “equal” rating and raised the price target for the company to 107.00 from $89.00 in a report on Friday, January 6th USD to. Finally, HC Wainwright raised its target price on NovoCure shares to $140.00 from $100.00 and gave the company a “buy” rating in a report on Thursday, January 5. Two research analysts have rated the stock with a sell rating, three with a hold rating and four with a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.13.
NovoCure profile
(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
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