Fox Run Management L.L.C. boosted its stake in NovoCure Limited (NASDAQ:NVCR – Free Report) by 112.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,405 shares of the medical equipment provider’s stock after purchasing an additional 52,587 shares during the quarter. Fox Run Management L.L.C. owned approximately 0.09% of NovoCure worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in NVCR. Soleus Capital Management L.P. boosted its stake in NovoCure by 25.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares during the period. Millennium Management LLC boosted its stake in NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock worth $17,255,000 after purchasing an additional 688,710 shares during the period. Balyasny Asset Management L.P. boosted its stake in NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after purchasing an additional 634,925 shares during the period. Dimensional Fund Advisors LP boosted its stake in NovoCure by 2,063.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 565,763 shares of the medical equipment provider’s stock worth $7,310,000 after purchasing an additional 539,609 shares during the period. Finally, Algert Global LLC boosted its stake in NovoCure by 372.2% in the 3rd quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after purchasing an additional 538,235 shares during the period. Institutional investors own 84.61% of the company’s stock.
Wall Street Analysts Forecast Growth
NVCR has been the subject of several analyst reports. HC Wainwright raised their target price on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Evercore restated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Wells Fargo & Company raised their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Thursday, April 16th. Finally, Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.29.
NovoCure Stock Performance
NASDAQ:NVCR opened at $17.24 on Wednesday. The business’s 50-day moving average price is $14.63 and its two-hundred day moving average price is $13.31. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $19.25. The stock has a market cap of $2.00 billion, a P/E ratio of -11.27 and a beta of 0.93. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71.
NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.31) earnings per share. As a group, equities analysts predict that NovoCure Limited will post -1.55 EPS for the current fiscal year.
Insider Activity at NovoCure
In related news, Director Timothy J. Scannell sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director directly owned 14,288 shares of the company’s stock, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the transaction, the director directly owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 51,943 shares of company stock worth $893,171 in the last quarter. 5.52% of the stock is owned by company insiders.
NovoCure Company Profile
NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.
Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.
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