TimesSquare Capital Management LLC Sells 8,800 Shares of NovoCure Limited (NASDAQ:NVCR)

TimesSquare Capital Management LLC decreased its position in shares of NovoCure Limited (NASDAQ:NVCR) by 12.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,700 shares of the medical equipment provider’s stock after selling 8,800 shares during the quarter. TimesSquare Capital Management LLC owned about 0.06% of NovoCure worth $8,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Financial Planning Inc. bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $26,000. RWM Asset Management LLC bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $35,000. NEXT Financial Group Inc bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $35,000. tru Independence LLC bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $43,261,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

In other news, Chairman William F. Doyle sold 7,928 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $134.12, for a total transaction of $1,063,303.36. Following the transaction, the chairman now owns 658,321 shares of the company’s stock, valued at approximately $88,294,012.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabriel Leung sold 1,000 shares of the company’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $204.55, for a total value of $204,550.00. Following the transaction, the director now directly owns 73,045 shares in the company, valued at approximately $14,941,354.75. The disclosure for this sale can be found here. Insiders have sold a total of 219,815 shares of company stock worth $43,017,235 in the last ninety days. Insiders own 4.57% of the company’s stock.

NVCR stock opened at $217.48 on Friday. The stock has a fifty day simple moving average of $187.26. The company has a debt-to-equity ratio of 1.50, a quick ratio of 8.94 and a current ratio of 9.19. NovoCure Limited has a 1-year low of $55.40 and a 1-year high of $220.48. The stock has a market capitalization of $22.49 billion, a PE ratio of 1,977.27 and a beta of 1.08.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 29th. The medical equipment provider reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). NovoCure had a return on equity of 3.30% and a net margin of 2.22%. As a group, equities research analysts forecast that NovoCure Limited will post 0.08 earnings per share for the current year.

Several research analysts recently issued reports on the company. Truist Securities lifted their target price on NovoCure from $132.00 to $142.00 and gave the company a “hold” rating in a research report on Monday, April 19th. Zacks Investment Research cut NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday, May 12th. Mizuho lifted their target price on NovoCure from $175.00 to $242.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Truist lifted their target price on NovoCure from $132.00 to $142.00 in a research report on Monday, April 19th. Finally, Northland Securities lifted their target price on NovoCure from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, April 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $195.71.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields delivery system for use as a monotherapy treatment for adult patients with glioblastoma.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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