Insider Selling: Novocure Ltd (NVCR) CFO Sells $1,422,235.47 in Stock

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Novocure Ltd (NASDAQ:NVCR) CFO Wilhelmus Cm Groenhuysen sold 35,547 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $40.01, for a total value of $1,422,235.47. Following the completion of the transaction, the chief financial officer now directly owns 47,397 shares of the company’s stock, valued at approximately $1,896,353.97. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Wilhelmus Cm Groenhuysen also recently made the following trade(s):

  • On Friday, August 24th, Wilhelmus Cm Groenhuysen sold 25,574 shares of Novocure stock. The stock was sold at an average price of $40.00, for a total value of $1,022,960.00.
  • On Wednesday, August 22nd, Wilhelmus Cm Groenhuysen sold 31,179 shares of Novocure stock. The stock was sold at an average price of $37.67, for a total value of $1,174,512.93.
  • On Tuesday, August 14th, Wilhelmus Cm Groenhuysen sold 4,368 shares of Novocure stock. The stock was sold at an average price of $37.62, for a total value of $164,324.16.
  • On Wednesday, August 1st, Wilhelmus Cm Groenhuysen sold 1,241 shares of Novocure stock. The stock was sold at an average price of $35.01, for a total value of $43,447.41.
  • On Friday, July 27th, Wilhelmus Cm Groenhuysen sold 62,727 shares of Novocure stock. The stock was sold at an average price of $35.08, for a total value of $2,200,463.16.

Novocure stock opened at $43.30 on Friday. The company has a current ratio of 6.41, a quick ratio of 5.97 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $3.72 billion, a P/E ratio of -61.86 and a beta of 3.10. Novocure Ltd has a twelve month low of $16.10 and a twelve month high of $43.80.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. Novocure had a negative return on equity of 52.34% and a negative net margin of 26.99%. The business’s quarterly revenue was up 60.2% on a year-over-year basis. analysts expect that Novocure Ltd will post -0.69 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in Novocure by 51.9% during the 1st quarter. Wells Fargo & Company MN now owns 100,057 shares of the medical equipment provider’s stock valued at $2,181,000 after purchasing an additional 34,208 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Novocure by 2.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,107,899 shares of the medical equipment provider’s stock valued at $24,152,000 after purchasing an additional 26,001 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in Novocure by 4.4% during the 1st quarter. Hodges Capital Management Inc. now owns 285,500 shares of the medical equipment provider’s stock valued at $6,224,000 after purchasing an additional 12,000 shares during the last quarter. Swiss National Bank boosted its stake in Novocure by 5.0% during the 1st quarter. Swiss National Bank now owns 77,400 shares of the medical equipment provider’s stock valued at $1,687,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Novocure by 3.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 102,600 shares of the medical equipment provider’s stock valued at $2,237,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 54.91% of the company’s stock.

Several research analysts have recently issued reports on the company. Mizuho reissued a “buy” rating and issued a $32.00 target price on shares of Novocure in a research report on Wednesday, June 13th. BidaskClub lowered Novocure from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Evercore ISI assumed coverage on Novocure in a research report on Monday, July 16th. They issued an “outperform” rating and a $46.00 target price for the company. Wedbush increased their target price on Novocure from $33.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Finally, Deutsche Bank lowered Novocure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.67.

About Novocure

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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