Envestnet Asset Management Inc. Has $1.77 Million Stock Position in NovoCure Limited (NASDAQ:NVCR)

Envestnet Asset Management Inc. boosted its holdings in shares of NovoCure Limited (NASDAQ:NVCR – Get Rating) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,088 shares of the medical equipment provider’s stock after buying an additional 2,755 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NovoCure were worth $1,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Commerce Bank grew its position in NovoCure by 4.4% during the third quarter. Commerce Bank now owns 4,191 shares of the medical equipment provider’s stock worth $318,000 after buying an additional 177 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of NovoCure by 5.2% during the 3rd quarter. Independent Advisor Alliance now owns 4,522 shares of the medical equipment provider’s stock worth $344,000 after purchasing an additional 224 shares in the last quarter. CWM LLC increased its position in shares of NovoCure by 12.9% in the fourth quarter. CWM LLC now owns 2,079 shares of the medical equipment provider’s stock worth $152,000 after purchasing an additional 238 shares during the period. First Republic Investment Management Inc. raised its stake in NovoCure by 9.6% in the third quarter. First Republic Investment Management Inc. now owns 3,394 shares of the medical equipment provider’s stock valued at $258,000 after purchasing an additional 298 shares in the last quarter. Finally, Brinker Capital Investments LLC lifted its position in NovoCure by 3.2% during the fourth quarter. Brinker Capital Investments LLC now owns 10,606 shares of the medical equipment provider’s stock worth $778,000 after purchasing an additional 333 shares during the period. Institutional investors own 78.42% of the company’s stock.

Insider Transactions at NovoCure

In related news, COO Wilhelmus Cm Groenhuysen sold 2,164 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $76.36, for a total value of $165,243.04. Following the completion of the transaction, the chief operating officer now owns 184,615 shares in the company, valued at approximately $14,097,201.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other NovoCure news, insider Frank X. Leonard sold 1,684 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $76.36, for a total value of $128,590.24. Following the sale, the insider now owns 63,095 shares in the company, valued at approximately $4,817,934.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Wilhelmus Cm Groenhuysen sold 2,164 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $76.36, for a total value of $165,243.04. Following the completion of the sale, the chief operating officer now directly owns 184,615 shares of the company’s stock, valued at approximately $14,097,201.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,105 shares of company stock worth $621,533. Insiders own 6.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised shares of NovoCure from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $104.00 in a report on Tuesday, May 16th. StockNews.com assumed coverage on shares of NovoCure in a research report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $50.00 target price (down previously from $99.00) on shares of NovoCure in a report on Friday, March 17th. Finally, HC Wainwright decreased their price target on NovoCure from $130.00 to $115.00 in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.33.

NovoCure Stock Performance

NASDAQ NVCR opened at $79.45 on Monday. The firm’s fifty day moving average price is $65.16 and its two-hundred day moving average price is $75.58. The stock has a market cap of $8.44 billion, a PE ratio of -59.29 and a beta of 0.81. The company has a debt-to-equity ratio of 1.31, a quick ratio of 7.11 and a current ratio of 7.32. NovoCure Limited has a fifty-two week low of $56.06 and a fifty-two week high of $120.03.

NovoCure (NASDAQ:NVCR – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). The firm had revenue of $122.20 million for the quarter, compared to the consensus estimate of $127.93 million. NovoCure had a negative return on equity of 32.03% and a negative net margin of 26.98%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, equities analysts expect that NovoCure Limited will post -1.97 EPS for the current fiscal year.

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.