NovoCure Limited (NASDAQ:NVCR) Shares Bought by abrdn plc

abrdn plc raised its holdings in NovoCure Limited (NASDAQ:NVCRGet Rating) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,920 shares of the medical equipment provider’s stock after purchasing an additional 3,595 shares during the quarter. abrdn plc’s holdings in NovoCure were worth $1,565,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System increased its stake in NovoCure by 2.4% in the first quarter. Arizona State Retirement System now owns 26,009 shares of the medical equipment provider’s stock valued at $2,155,000 after purchasing an additional 611 shares during the period. Lloyd Park LLC increased its stake in NovoCure by 40.1% in the first quarter. Lloyd Park LLC now owns 6,700 shares of the medical equipment provider’s stock valued at $555,000 after purchasing an additional 1,918 shares during the period. Signaturefd LLC boosted its holdings in shares of NovoCure by 162.9% in the first quarter. Signaturefd LLC now owns 1,375 shares of the medical equipment provider’s stock valued at $114,000 after acquiring an additional 852 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of NovoCure by 19.0% in the first quarter. SG Americas Securities LLC now owns 15,696 shares of the medical equipment provider’s stock valued at $1,300,000 after acquiring an additional 2,507 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of NovoCure by 24.8% in the first quarter. Daiwa Securities Group Inc. now owns 9,970 shares of the medical equipment provider’s stock valued at $826,000 after acquiring an additional 1,981 shares in the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Up 1.5 %

Shares of NASDAQ NVCR opened at $69.01 on Tuesday. NovoCure Limited has a 12-month low of $56.39 and a 12-month high of $159.02. The company has a market capitalization of $7.22 billion, a PE ratio of -106.17 and a beta of 0.87. The company has a debt-to-equity ratio of 1.28, a current ratio of 8.08 and a quick ratio of 7.87. The firm’s 50-day moving average is $72.21 and its two-hundred day moving average is $74.50.

NovoCure (NASDAQ:NVCRGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.09). NovoCure had a negative net margin of 12.52% and a negative return on equity of 16.04%. The business had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $135.13 million. During the same period last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that NovoCure Limited will post -0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVCR has been the topic of several analyst reports. Evercore ISI downgraded shares of NovoCure from an “in-line” rating to an “underperform” rating and set a $55.00 target price on the stock. in a report on Tuesday, July 5th. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Truist Financial lowered their target price on shares of NovoCure from $118.00 to $105.00 and set a “maintains” rating on the stock in a report on Friday. Piper Sandler decreased their price objective on shares of NovoCure from $100.00 to $90.00 in a report on Thursday, July 28th. Finally, HC Wainwright assumed coverage on shares of NovoCure in a report on Monday, May 16th. They set a “buy” rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, NovoCure currently has an average rating of “Hold” and a consensus target price of $104.71.

Insider Buying and Selling at NovoCure

In other NovoCure news, Director Jeryl L. Hilleman sold 407 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $69.61, for a total value of $28,331.27. Following the sale, the director now owns 2,537 shares of the company’s stock, valued at $176,600.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.57% of the company’s stock.

NovoCure Company Profile

(Get Rating)

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, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

Read More

Want to see what other hedge funds are holding NVCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NovoCure Limited (NASDAQ:NVCRGet Rating).

Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

Want More Great Investing Ideas?

Receive News & Ratings for NovoCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure and related companies with MarketBeat.com's FREE daily email newsletter.