NovoCure Limited (NASDAQ:NVCR – Get Free Report) CEO Frank Leonard sold 34,273 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.93, for a total transaction of $614,514.89. Following the sale, the chief executive officer owned 459,520 shares of the company’s stock, valued at approximately $8,239,193.60. This represents a 6.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NovoCure Stock Performance
NASDAQ NVCR opened at $17.16 on Friday. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $13.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The stock has a market cap of $1.99 billion, a PE ratio of -11.22 and a beta of 0.93. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $19.25.
NovoCure (NASDAQ:NVCR – Get Free Report) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $167.77 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that NovoCure Limited will post -1.55 EPS for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on NVCR
Hedge Funds Weigh In On NovoCure
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of NovoCure by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 916 shares in the last quarter. Larson Financial Group LLC raised its position in shares of NovoCure by 25.2% in the 4th quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock valued at $66,000 after buying an additional 1,033 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of NovoCure by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock valued at $1,771,000 after buying an additional 1,076 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NovoCure by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares in the last quarter. Finally, Strs Ohio raised its position in shares of NovoCure by 2.2% in the 1st quarter. Strs Ohio now owns 59,400 shares of the medical equipment provider’s stock valued at $647,000 after buying an additional 1,300 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.
About NovoCure
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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