American Trust Invests $208,000 in NovoCure Limited (NASDAQ:NVCR)

American Trust purchased a new position in NovoCure Limited (NASDAQ:NVCR – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,731 shares of the medical equipment provider’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management SA increased its holdings in shares of NovoCure by 0.4% in the 2nd quarter. Pictet Asset Management SA now owns 39,391 shares of the medical equipment provider’s stock worth $2,738,000 after buying an additional 151 shares during the last quarter. United Capital Financial Advisers LLC increased its holdings in shares of NovoCure by 2.2% in the 2nd quarter. United Capital Financial Advisers LLC now owns 8,072 shares of the medical equipment provider’s stock worth $561,000 after buying an additional 172 shares during the last quarter. Commerce Bank increased its holdings in shares of NovoCure by 4.4% in the 3rd quarter. Commerce Bank now owns 4,191 shares of the medical equipment provider’s stock worth $318,000 after buying an additional 177 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of NovoCure by 3.1% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 6,660 shares of the medical equipment provider’s stock worth $506,000 after buying an additional 200 shares during the last quarter. Finally, Xponance Inc. increased its holdings in shares of NovoCure by 1.7% in the 3rd quarter. Xponance Inc. now owns 12,224 shares of the medical equipment provider’s stock worth $929,000 after buying an additional 202 shares during the last quarter. Institutional investors own 78.42% of the company’s stock.

Insider Transactions at NovoCure

In other news, insider Frank X. Leonard sold 2,059 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $77.64, for a total value of $159,860.76. Following the completion of the sale, the insider now directly owns 67,893 shares of the company’s stock, valued at approximately $5,271,212.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Uri Weinberg sold 8,143 shares of the firm’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $116.14, for a total value of $945,728.02. Following the completion of the sale, the insider now directly owns 43,286 shares of the company’s stock, valued at approximately $5,027,236.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frank X. Leonard sold 2,059 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $77.64, for a total transaction of $159,860.76. Following the completion of the sale, the insider now directly owns 67,893 shares of the company’s stock, valued at $5,271,212.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,748 shares of company stock valued at $24,674,511. Company insiders own 6.22% of the company’s stock.

NovoCure Trading Down 11.4 %

Shares of NVCR opened at $57.07 on Friday. The stock has a market capitalization of $6.02 billion, a P/E ratio of -64.85 and a beta of 0.83. The company has a quick ratio of 6.82, a current ratio of 7.00 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $83.72 and a two-hundred day simple moving average of $79.60. NovoCure Limited has a twelve month low of $56.39 and a twelve month high of $120.03.

NovoCure (NASDAQ:NVCR – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The medical equipment provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $128.43 million for the quarter, compared to analysts’ expectations of $127.20 million. NovoCure had a negative net margin of 17.20% and a negative return on equity of 20.98%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.25) EPS. On average, research analysts anticipate that NovoCure Limited will post -1.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $50.00 target price (down previously from $99.00) on shares of NovoCure in a report on Friday. Wells Fargo & Company lowered shares of NovoCure from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $89.00 to $107.00 in a report on Friday, January 6th. HC Wainwright reduced their target price on shares of NovoCure from $135.00 to $130.00 in a report on Thursday, February 23rd. Piper Sandler increased their target price on shares of NovoCure from $70.00 to $80.00 in a report on Tuesday, January 17th. Finally, StockNews.com assumed coverage on shares of NovoCure in a report on Thursday. They set a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.33.

About NovoCure

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NovoCure Ltd. is an oncology company which engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. Its platform is called the Tumor Treating Field which uses electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division.