Insider Selling: NovoCure Limited (NASDAQ:NVCR) Insider Sells 810 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 810 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $15.79, for a total value of $12,789.90. Following the transaction, the insider now directly owns 110,093 shares of the company’s stock, valued at approximately $1,738,368.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NovoCure Stock Up 8.9 %

Shares of NASDAQ NVCR opened at $18.10 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm’s 50-day moving average is $16.66 and its two-hundred day moving average is $18.02. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $24.74. The company has a market capitalization of $1.96 billion, a PE ratio of -12.93 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. NovoCure’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.46) EPS. Equities analysts anticipate that NovoCure Limited will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NVCR shares. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of NovoCure in a report on Thursday, October 31st. Evercore ISI lowered their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company reduced their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Wedbush restated an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCR. Lombard Odier Asset Management USA Corp lifted its holdings in NovoCure by 5.4% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after purchasing an additional 557 shares in the last quarter. Arizona State Retirement System raised its position in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after buying an additional 581 shares during the last quarter. Signaturefd LLC lifted its stake in shares of NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 701 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.