Advisors Asset Management Inc. acquired a new position in Novocure Ltd (NASDAQ:NVCR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,653 shares of the medical equipment provider’s stock, valued at approximately $365,000.
Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. bought a new position in Novocure in the second quarter worth approximately $135,000. CWM LLC bought a new position in Novocure in the second quarter worth approximately $163,000. NumerixS Investment Technologies Inc raised its stake in Novocure by 270.6% in the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 4,600 shares in the last quarter. WINTON GROUP Ltd bought a new position in Novocure in the second quarter worth approximately $202,000. Finally, D.A. Davidson & CO. bought a new position in Novocure in the second quarter worth approximately $210,000. 55.58% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the stock. Deutsche Bank set a $44.00 price objective on shares of Novocure and gave the stock a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research lowered shares of Novocure from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Mizuho reaffirmed a “buy” rating and issued a $58.00 price target on shares of Novocure in a report on Friday, October 19th. BidaskClub lowered shares of Novocure from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Finally, Evercore ISI initiated coverage on shares of Novocure in a report on Monday, July 16th. They issued an “outperform” rating and a $46.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.
NASDAQ NVCR opened at $34.36 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.72 and a current ratio of 6.17. Novocure Ltd has a 12-month low of $16.90 and a 12-month high of $53.70. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -49.09 and a beta of 3.74.
Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Novocure had a negative net margin of 25.37% and a negative return on equity of 52.72%. The business had revenue of $64.76 million for the quarter, compared to analyst estimates of $65.61 million. Sell-side analysts anticipate that Novocure Ltd will post -0.68 EPS for the current year.
In other news, CFO Wilhelmus Cm Groenhuysen sold 4,368 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $37.62, for a total transaction of $164,324.16. Following the sale, the chief financial officer now directly owns 108,118 shares of the company’s stock, valued at $4,067,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Yoram Palti sold 25,666 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $40.03, for a total transaction of $1,027,409.98. The disclosure for this sale can be found here. Insiders sold 134,550 shares of company stock worth $5,300,083 over the last ninety days. Corporate insiders own 15.30% of the company’s stock.
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Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.
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