Pictet Asset Management SA Acquires 151 Shares of NovoCure Limited (NASDAQ:NVCR)

Pictet Asset Management SA grew its holdings in NovoCure Limited (NASDAQ:NVCRGet Rating) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,391 shares of the medical equipment provider’s stock after acquiring an additional 151 shares during the period. Pictet Asset Management SA’s holdings in NovoCure were worth $2,738,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVCR. SG Americas Securities LLC raised its position in NovoCure by 19.0% in the first quarter. SG Americas Securities LLC now owns 15,696 shares of the medical equipment provider’s stock worth $1,300,000 after acquiring an additional 2,507 shares during the period. Signaturefd LLC raised its position in NovoCure by 162.9% in the first quarter. Signaturefd LLC now owns 1,375 shares of the medical equipment provider’s stock worth $114,000 after acquiring an additional 852 shares during the period. Arizona State Retirement System raised its position 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 worth $2,155,000 after acquiring an additional 611 shares during the period. abrdn plc raised its position in NovoCure by 23.5% in the first quarter. abrdn plc now owns 18,920 shares of the medical equipment provider’s stock worth $1,565,000 after acquiring an additional 3,595 shares during the period. Finally, C WorldWide Group Holding A S raised its position in NovoCure by 22.7% in the first quarter. C WorldWide Group Holding A S now owns 296,784 shares of the medical equipment provider’s stock worth $24,589,000 after acquiring an additional 55,000 shares during the period. 76.45% of the stock is currently owned by institutional investors.

NovoCure Trading Down 2.8 %

Shares of NovoCure stock opened at $75.30 on Tuesday. The company has a quick ratio of 7.62, a current ratio of 7.81 and a debt-to-equity ratio of 1.27. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of -97.79 and a beta of 0.75. NovoCure Limited has a twelve month low of $56.39 and a twelve month high of $104.22. The business has a 50-day moving average price of $76.60 and a 200-day moving average price of $75.20.

NovoCure (NASDAQ:NVCRGet Rating) last posted its earnings results on Thursday, October 27th. The medical equipment provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The company had revenue of $131.00 million for the quarter, compared to the consensus estimate of $134.83 million. NovoCure had a negative return on equity of 18.85% and a negative net margin of 15.05%. Equities research analysts anticipate that NovoCure Limited will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Frank X. Leonard sold 6,754 shares of the business’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $76.01, for a total value of $513,371.54. Following the sale, the insider now directly owns 43,626 shares in the company, valued at $3,316,012.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NovoCure news, insider Frank X. Leonard sold 12,271 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $88.52, for a total transaction of $1,086,228.92. Following the sale, the insider now directly owns 70,642 shares of the company’s stock, valued at $6,253,229.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank X. Leonard sold 6,754 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $76.01, for a total value of $513,371.54. Following the sale, the insider now directly owns 43,626 shares in the company, valued at $3,316,012.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,150 shares of company stock worth $3,375,859. Corporate insiders own 6.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NVCR. HC Wainwright decreased their price target on shares of NovoCure from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Wells Fargo & Company raised their price objective on shares of NovoCure from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, October 28th. Piper Sandler downgraded shares of NovoCure from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $70.00 in a research report on Monday, October 24th. Truist Financial decreased their price objective on shares of NovoCure from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Finally, StockNews.com began coverage on shares of NovoCure in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, NovoCure has an average rating of “Hold” and an average price target of $99.86.

About NovoCure

(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

Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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.