M&T Bank Corp Boosts Holdings in NovoCure Limited (NASDAQ:NVCR)

M&T Bank Corp raised its holdings in NovoCure Limited (NASDAQ:NVCR) by 75.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,150 shares of the medical equipment provider’s stock after acquiring an additional 2,647 shares during the period. M&T Bank Corp’s holdings in NovoCure were worth $685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of NovoCure by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,474,620 shares of the medical equipment provider’s stock valued at $443,244,000 after purchasing an additional 56,364 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of NovoCure by 42.0% in the 2nd quarter. Two Sigma Advisers LP now owns 885,500 shares of the medical equipment provider’s stock valued at $52,510,000 after purchasing an additional 262,100 shares in the last quarter. Rhenman & Partners Asset Management AB lifted its stake in shares of NovoCure by 9.2% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 409,600 shares of the medical equipment provider’s stock valued at $45,593,000 after purchasing an additional 34,600 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in shares of NovoCure in the 2nd quarter valued at about $21,411,000. Finally, C WorldWide Group Holding A S lifted its stake in shares of NovoCure by 104.9% in the 2nd quarter. C WorldWide Group Holding A S now owns 341,784 shares of the medical equipment provider’s stock valued at $20,268,000 after purchasing an additional 175,000 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.

In other news, Director Gabriel Leung sold 7,112 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $80.13, for a total value of $569,884.56. Following the completion of the sale, the director now directly owns 79,157 shares in the company, valued at approximately $6,342,850.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Wilhelmus Cm Groenhuysen sold 50,868 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $103.27, for a total value of $5,253,138.36. Following the completion of the sale, the chief operating officer now owns 155,107 shares of the company’s stock, valued at $16,017,899.89. The disclosure for this sale can be found here. Insiders have sold a total of 134,381 shares of company stock worth $13,061,011 over the last 90 days. 5.07% of the stock is owned by company insiders.

NVCR stock opened at $132.36 on Friday. NovoCure Limited has a 52-week low of $53.40 and a 52-week high of $140.89. The stock’s 50 day moving average is $124.95 and its two-hundred day moving average is $86.38. The company has a market capitalization of $13.47 billion, a PE ratio of 696.67 and a beta of 1.37.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. NovoCure had a return on equity of 7.40% and a net margin of 4.26%. The company had revenue of $132.70 million for the quarter, compared to the consensus estimate of $120.02 million. During the same period in the previous year, the business earned $0.02 EPS. NovoCure’s revenue for the quarter was up 44.1% compared to the same quarter last year. Equities research analysts anticipate that NovoCure Limited will post 0.21 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on NovoCure from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. SunTrust Banks reaffirmed a “buy” rating on shares of NovoCure in a research note on Monday, August 3rd. Oppenheimer reissued a “hold” rating on shares of NovoCure in a research report on Thursday, July 30th. BidaskClub lowered NovoCure from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 22nd. Finally, Northland Securities initiated coverage on NovoCure in a research report on Wednesday, September 23rd. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. NovoCure currently has an average rating of “Hold” and a consensus target price of $98.67.

NovoCure Profile

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 NovoTTF-100L, 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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