NovoCure Limited (NASDAQ:NVCR) Shares Purchased by LPL Financial LLC

LPL Financial LLC lifted its holdings in NovoCure Limited (NASDAQ:NVCR – Get Rating) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,836 shares of the medical equipment provider’s stock after purchasing an additional 2,670 shares during the period. LPL Financial LLC’s holdings in NovoCure were worth $1,822,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management SA grew its holdings in shares of NovoCure by 1.5% in the third quarter. Pictet Asset Management SA now owns 39,965 shares of the medical equipment provider’s stock valued at $3,036,000 after purchasing an additional 574 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in NovoCure by 462.6% in the third quarter. Nisa Investment Advisors LLC now owns 9,480 shares of the medical equipment provider’s stock worth $718,000 after acquiring an additional 7,795 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in NovoCure in the fourth quarter worth approximately $178,000. BlackRock Inc. lifted its stake in NovoCure by 0.6% in the third quarter. BlackRock Inc. now owns 7,379,945 shares of the medical equipment provider’s stock worth $560,727,000 after acquiring an additional 46,794 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in NovoCure by 50.6% in the third quarter. Korea Investment CORP now owns 39,519 shares of the medical equipment provider’s stock worth $3,003,000 after acquiring an additional 13,285 shares during the last quarter. Institutional investors and hedge funds own 78.42% of the company’s stock.

NovoCure Stock Down 0.6 %

Shares of NASDAQ:NVCR opened at $80.38 on Wednesday. The company has a market capitalization of $8.54 billion, a PE ratio of -59.98 and a beta of 0.81. The company has a current ratio of 7.32, a quick ratio of 7.11 and a debt-to-equity ratio of 1.31. NovoCure Limited has a twelve month low of $56.06 and a twelve month high of $120.03. The firm has a 50 day simple moving average of $65.68 and a 200-day simple moving average of $75.72.

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

Analyst Upgrades and Downgrades

NVCR has been the subject of a number of recent research reports. Wells Fargo & Company upgraded shares of NovoCure from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $104.00 in a research note on Tuesday, May 16th. StockNews.com initiated coverage on shares of NovoCure in a research note on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $50.00 price target (down previously from $99.00) on shares of NovoCure in a research note on Friday, March 17th. Finally, HC Wainwright reduced their price objective on shares of NovoCure from $130.00 to $115.00 in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.33.

Insider Activity

In other news, CFO Ashley Cordova sold 2,198 shares of NovoCure stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $76.36, for a total value of $167,839.28. Following the transaction, the chief financial officer now directly owns 96,062 shares of the company’s stock, valued at approximately $7,335,294.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NovoCure news, insider Frank X. Leonard sold 2,059 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $77.64, for a total value of $159,860.76. Following the transaction, the insider now directly owns 67,893 shares of the company’s stock, valued at approximately $5,271,212.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashley Cordova sold 2,198 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $76.36, for a total transaction of $167,839.28. Following the completion of the transaction, the chief financial officer now directly owns 96,062 shares in the company, valued at $7,335,294.32. The disclosure for this sale can be found here. Insiders have sold 8,105 shares of company stock valued at $621,533 in the last ninety days. 6.22% of the stock is currently owned by company insiders.

NovoCure Profile

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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.