Lazard Asset Management LLC bought a new stake in shares of Novocure Ltd (NASDAQ:NVCR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,425 shares of the medical equipment provider’s stock, valued at approximately $271,000.
Several other large investors have also bought and sold shares of NVCR. Ameriprise Financial Inc. purchased a new position in Novocure in the 3rd quarter valued at about $1,163,000. Wells Fargo & Company MN lifted its stake in Novocure by 44.8% in the 3rd quarter. Wells Fargo & Company MN now owns 66,058 shares of the medical equipment provider’s stock valued at $1,312,000 after buying an additional 20,439 shares in the last quarter. Sei Investments Co. purchased a new position in Novocure in the 3rd quarter valued at about $397,000. Frontier Capital Management Co. LLC lifted its stake in Novocure by 29.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,081,898 shares of the medical equipment provider’s stock valued at $21,854,000 after buying an additional 248,322 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Novocure in the 3rd quarter valued at about $1,778,000. Hedge funds and other institutional investors own 42.81% of the company’s stock.
A number of research analysts recently weighed in on NVCR shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novocure in a research note on Monday, November 20th. Mizuho reaffirmed a “buy” rating and issued a $25.00 price target on shares of Novocure in a research note on Friday, December 1st. ValuEngine raised shares of Novocure from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Novocure from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, BidaskClub raised shares of Novocure from a “hold” rating to a “buy” rating in a research note on Saturday, January 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Novocure presently has a consensus rating of “Buy” and an average target price of $21.50.
Novocure Ltd (NASDAQ:NVCR) opened at $22.20 on Thursday. The company has a quick ratio of 4.44, a current ratio of 4.88 and a debt-to-equity ratio of 0.86. Novocure Ltd has a 12 month low of $6.75 and a 12 month high of $24.15.
Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.02. Novocure had a negative net margin of 34.83% and a negative return on equity of 51.74%. The business had revenue of $53.66 million for the quarter, compared to analyst estimates of $53.17 million. During the same period last year, the company posted ($0.26) EPS. The business’s revenue was up 77.4% on a year-over-year basis. research analysts expect that Novocure Ltd will post -0.5 EPS for the current year.
In other news, insider Eilon D. Kirson sold 25,320 shares of Novocure stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $22.00, for a total transaction of $557,040.00. Following the sale, the insider now owns 3,181 shares of the company’s stock, valued at approximately $69,982. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Asaf Danziger sold 13,974 shares of Novocure stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $24.02, for a total transaction of $335,655.48. Following the sale, the chief executive officer now directly owns 356,790 shares in the company, valued at approximately $8,570,095.80. The disclosure for this sale can be found here. Insiders sold a total of 511,492 shares of company stock worth $11,300,256 over the last three months. Corporate insiders own 16.70% of the company’s stock.
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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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