NovoCure Limited (NASDAQ:NVCR) COO Wilhelmus Cm Groenhuysen sold 3,670 shares of the business’s stock in a transaction dated Sunday, February 28th. The stock was sold at an average price of $72.22, for a total value of $265,047.40. Following the transaction, the chief operating officer now directly owns 150,014 shares of the company’s stock, valued at $10,834,011.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
NVCR traded up $0.75 on Thursday, reaching $132.45. The company’s stock had a trading volume of 10,286 shares, compared to its average volume of 730,526. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 701.72 and a beta of 1.29. NovoCure Limited has a fifty-two week low of $55.40 and a fifty-two week high of $194.75. The stock has a 50 day moving average of $144.59 and a two-hundred day moving average of $145.62.
NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 25th. The medical equipment provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.09). The firm had revenue of $144.00 million during the quarter, compared to analyst estimates of $143.49 million. NovoCure had a net margin of 4.26% and a return on equity of 7.40%. NovoCure’s revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. On average, research analysts forecast that NovoCure Limited will post 0.23 EPS for the current year.
Several hedge funds have recently bought and sold shares of NVCR. Norges Bank acquired a new stake in shares of NovoCure in the fourth quarter valued at approximately $148,269,000. Victory Capital Management Inc. raised its stake in shares of NovoCure by 982.9% during the fourth quarter. Victory Capital Management Inc. now owns 450,786 shares of the medical equipment provider’s stock worth $78,004,000 after purchasing an additional 409,159 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of NovoCure during the fourth quarter worth approximately $46,463,000. Cookson Peirce & Co. Inc. raised its stake in shares of NovoCure by 2,140.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 174,042 shares of the medical equipment provider’s stock worth $30,116,000 after purchasing an additional 166,273 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of NovoCure by 1.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,261,075 shares of the medical equipment provider’s stock worth $1,429,497,000 after purchasing an additional 136,430 shares during the last quarter. 71.09% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on NVCR shares. Piper Sandler boosted their price objective on NovoCure from $140.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, January 25th. Wedbush boosted their price objective on NovoCure from $110.00 to $159.00 in a research report on Tuesday, January 12th. TheStreet downgraded NovoCure from a “b-” rating to a “c” rating in a report on Monday, February 1st. Zacks Investment Research downgraded NovoCure from a “hold” rating to a “sell” rating in a report on Thursday, April 1st. Finally, Truist upped their price target on NovoCure from $118.00 to $132.00 in a report on Friday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $129.13.
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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