Lazard Asset Management LLC purchased a new stake in NovoCure (NASDAQ:NVCR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,425 shares of the medical equipment provider’s stock, valued at approximately $271,000.
Other institutional investors have also added to or reduced their stakes in the company. Crow Point Partners LLC purchased a new stake in NovoCure in the fourth quarter valued at about $120,000. Trexquant Investment LP purchased a new stake in NovoCure in the third quarter valued at about $212,000. Teacher Retirement System of Texas acquired a new position in shares of NovoCure in the fourth quarter valued at about $310,000. Parametric Portfolio Associates LLC acquired a new position in shares of NovoCure in the second quarter valued at about $307,000. Finally, SG Americas Securities LLC increased its holdings in shares of NovoCure by 82.9% in the third quarter. SG Americas Securities LLC now owns 19,545 shares of the medical equipment provider’s stock valued at $388,000 after purchasing an additional 8,859 shares during the period. Institutional investors own 42.83% of the company’s stock.
NovoCure stock opened at $19.85 on Friday. The stock has a market cap of $1,829.11, a P/E ratio of -28.36 and a beta of 3.16. NovoCure has a 52 week low of $10.30 and a 52 week high of $24.15. The company has a current ratio of 4.88, a quick ratio of 4.44 and a debt-to-equity ratio of 0.86.
NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The firm had revenue of $53.66 million for the quarter, compared to analyst estimates of $53.17 million. NovoCure had a negative return on equity of 51.74% and a negative net margin of 34.83%. NovoCure’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period last year, the company earned ($0.26) earnings per share. research analysts anticipate that NovoCure will post -0.5 earnings per share for the current fiscal year.
In related news, General Counsel Todd Christopher Longsworth sold 6,591 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.83, for a total transaction of $130,699.53. Following the sale, the general counsel now directly owns 26,665 shares of the company’s stock, valued at $528,766.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Yoram Palti sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $20.32, for a total value of $1,219,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 572,624 shares of company stock worth $12,562,462. 16.70% of the stock is owned by corporate insiders.
NVCR has been the topic of a number of research reports. ValuEngine raised NovoCure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised NovoCure from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, January 3rd. BidaskClub raised NovoCure from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Mizuho reissued a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a report on Friday, February 23rd. Finally, Deutsche Bank cut their price objective on NovoCure from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.71.
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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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