NovoCure Limited (NASDAQ:NVCR) Shares Purchased by C WorldWide Group Holding A S

C WorldWide Group Holding A S boosted its stake in NovoCure Limited (NASDAQ:NVCR) by 135.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,784 shares of the medical equipment provider’s stock after buying an additional 300,000 shares during the period. C WorldWide Group Holding A S’s holdings in NovoCure were worth $7,790,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new stake in NovoCure in the third quarter worth $26,000. China Universal Asset Management Co. Ltd. grew its stake in shares of NovoCure by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 1,347 shares in the last quarter. CWM LLC grew its stake in shares of NovoCure by 127.9% in the third quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 2,184 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of NovoCure in the third quarter worth $74,000. Finally, Acadian Asset Management LLC bought a new position in shares of NovoCure in the third quarter worth $85,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NovoCure

In related news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock worth $127,161 in the last quarter. 5.67% of the stock is owned by company insiders.

NovoCure Price Performance

Shares of NASDAQ:NVCR traded up $0.40 during midday trading on Friday, reaching $12.64. The company had a trading volume of 762,109 shares, compared to its average volume of 1,083,416. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57. NovoCure Limited has a 1-year low of $10.87 and a 1-year high of $83.60. The company has a fifty day simple moving average of $14.42 and a two-hundred day simple moving average of $13.91.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The business had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same quarter last year, the company posted ($0.36) EPS. NovoCure’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts forecast that NovoCure Limited will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $28.00 price target (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. HC Wainwright raised their target price on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Evercore ISI raised their target price on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, February 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 target price on shares of NovoCure in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.