NovoCure Limited (NASDAQ:NVCR) Insider Michal Nath Puri Sells 810 Shares

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 810 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $15.79, for a total value of $12,789.90. Following the completion of the transaction, the insider now directly owns 110,093 shares of the company’s stock, valued at approximately $1,738,368.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NovoCure Price Performance

NVCR opened at $16.62 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -11.87 and a beta of 0.71. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $16.70 and a 200-day moving average price of $18.02. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $24.74.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. NovoCure’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.46) EPS. Equities analysts expect that NovoCure Limited will post -1.31 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a research report on Thursday, July 25th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of NovoCure in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Evercore ISI dropped their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently made changes to their positions in NVCR. Ridgewood Investments LLC purchased a new position in NovoCure during the 2nd quarter valued at about $28,000. Signaturefd LLC increased its holdings in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in NovoCure in the 2nd quarter worth approximately $34,000. Fifth Third Bancorp purchased a new stake in NovoCure in the 2nd quarter worth approximately $43,000. Finally, Nisa Investment Advisors LLC bought a new position in NovoCure in the 2nd quarter valued at $48,000. 84.61% of the stock is currently owned by institutional investors.

NovoCure Company Profile

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, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.