C WorldWide Group Holding A S lessened its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 230,500 shares of the medical equipment provider’s stock after selling 43,100 shares during the period. C WorldWide Group Holding A S owned 0.26% of NovoCure Limited worth $4,575,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NVCR. Bank of Montreal Can raised its holdings in shares of NovoCure Limited by 1,919.7% during the 2nd quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock worth $122,000 after acquiring an additional 6,719 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of NovoCure Limited by 792.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after acquiring an additional 6,419 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of NovoCure Limited during the 2nd quarter worth $126,000. Fox Run Management L.L.C. purchased a new position in shares of NovoCure Limited during the 2nd quarter worth $225,000. Finally, Legal & General Group Plc raised its holdings in shares of NovoCure Limited by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 1,092 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.
NovoCure Limited (NASDAQ NVCR) traded down $1.05 during midday trading on Friday, reaching $17.30. The company’s stock had a trading volume of 1,331,300 shares, compared to its average volume of 1,091,786. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30. NovoCure Limited has a 52 week low of $6.00 and a 52 week high of $22.30.
NovoCure Limited (NASDAQ:NVCR) last released its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. The company had revenue of $50.10 million during the quarter, compared to the consensus estimate of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. NovoCure Limited’s revenue was up 130.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.39) EPS. sell-side analysts forecast that NovoCure Limited will post -0.63 earnings per share for the current fiscal year.
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Several research firms have recently commented on NVCR. Zacks Investment Research lowered NovoCure Limited from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub downgraded NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and set a $19.00 price objective (up from $18.00) on shares of NovoCure Limited in a research report on Monday, July 17th. Mizuho initiated coverage on NovoCure Limited in a research report on Wednesday, September 6th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $25.00 price objective (down from $29.00) on shares of NovoCure Limited in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.00.
In related news, CEO Asaf Danziger sold 35,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $22.01, for a total transaction of $781,355.00. Following the completion of the sale, the chief executive officer now owns 776,862 shares in the company, valued at $17,098,732.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Yoram Palti sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.06, for a total value of $1,263,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,953 shares of company stock valued at $5,217,363. Corporate insiders own 16.70% of the company’s stock.
NovoCure Limited Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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