Fiera Capital Corp reduced its stake in shares of Novocure Ltd (NASDAQ:NVCR) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,673 shares of the medical equipment provider’s stock after selling 23,868 shares during the quarter. Fiera Capital Corp’s holdings in Novocure were worth $2,585,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of NVCR. Baillie Gifford & Co. raised its stake in shares of Novocure by 78.7% during the first quarter. Baillie Gifford & Co. now owns 8,039,525 shares of the medical equipment provider’s stock valued at $387,263,000 after purchasing an additional 3,541,001 shares in the last quarter. Norges Bank bought a new stake in shares of Novocure during the fourth quarter valued at about $28,472,000. Westfield Capital Management Co. LP raised its stake in shares of Novocure by 233.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 685,890 shares of the medical equipment provider’s stock valued at $22,964,000 after purchasing an additional 480,085 shares in the last quarter. FMR LLC raised its stake in shares of Novocure by 3.2% during the fourth quarter. FMR LLC now owns 11,190,381 shares of the medical equipment provider’s stock valued at $374,654,000 after purchasing an additional 345,135 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Novocure by 11.0% during the fourth quarter. Macquarie Group Ltd. now owns 1,225,475 shares of the medical equipment provider’s stock valued at $41,029,000 after purchasing an additional 121,358 shares in the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.
Shares of Novocure stock opened at $57.06 on Friday. The company has a current ratio of 4.73, a quick ratio of 4.39 and a debt-to-equity ratio of 1.27. Novocure Ltd has a 52 week low of $26.02 and a 52 week high of $57.82. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -82.70 and a beta of 2.44.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The firm had revenue of $73.31 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same period in the previous year, the business earned ($0.23) earnings per share. Novocure’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, analysts predict that Novocure Ltd will post -0.17 earnings per share for the current year.
In other Novocure news, insider Pritesh Shah sold 1,204 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.80, for a total value of $52,735.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Asaf Danziger sold 30,436 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total transaction of $1,685,850.04. Following the completion of the sale, the chief executive officer now owns 275,146 shares in the company, valued at $15,240,336.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 343,464 shares of company stock worth $17,228,476. 5.60% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on NVCR shares. Zacks Investment Research cut shares of Novocure from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a research note on Sunday, May 26th. ValuEngine cut shares of Novocure from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. SunTrust Banks started coverage on shares of Novocure in a research note on Tuesday, March 19th. They set a “hold” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Co restated a “hold” rating on shares of Novocure in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.63.
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Novocure Company Profile
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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