NumerixS Investment Technologies Inc grew its position in shares of Novocure Ltd (NASDAQ:NVCR) by 270.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the medical equipment provider’s stock after acquiring an additional 4,600 shares during the period. NumerixS Investment Technologies Inc’s holdings in Novocure were worth $196,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Novocure by 32.7% during the second quarter. Bank of Montreal Can now owns 9,379 shares of the medical equipment provider’s stock valued at $293,000 after acquiring an additional 2,310 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Novocure by 28.7% during the second quarter. Teacher Retirement System of Texas now owns 12,763 shares of the medical equipment provider’s stock valued at $399,000 after buying an additional 2,845 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Novocure by 3.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 102,600 shares of the medical equipment provider’s stock valued at $2,237,000 after buying an additional 3,500 shares during the period. Swiss National Bank increased its position in shares of Novocure by 5.0% during the first quarter. Swiss National Bank now owns 77,400 shares of the medical equipment provider’s stock valued at $1,687,000 after buying an additional 3,700 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Novocure by 10.1% during the first quarter. Principal Financial Group Inc. now owns 44,849 shares of the medical equipment provider’s stock valued at $978,000 after buying an additional 4,106 shares during the period. 56.09% of the stock is owned by hedge funds and other institutional investors.
In other Novocure news, insider Yoram Palti sold 25,666 shares of Novocure stock in a transaction on Monday, August 27th. The shares were sold at an average price of $40.03, for a total value of $1,027,409.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Asaf Danziger sold 8,308 shares of Novocure stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $32.04, for a total transaction of $266,188.32. Following the completion of the transaction, the chief executive officer now directly owns 147,990 shares of the company’s stock, valued at $4,741,599.60. The disclosure for this sale can be found here. Insiders have sold 356,869 shares of company stock valued at $12,588,047 over the last ninety days. 15.30% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a report on Sunday. BidaskClub upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Mizuho reiterated a “buy” rating and issued a $32.00 target price on shares of Novocure in a research note on Wednesday, June 13th. ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Novocure in a research note on Thursday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Novocure currently has an average rating of “Buy” and a consensus target price of $40.29.
NVCR traded down $0.60 during trading on Friday, hitting $48.30. The company’s stock had a trading volume of 509,380 shares, compared to its average volume of 797,735. The company has a current ratio of 6.41, a quick ratio of 5.97 and a debt-to-equity ratio of 1.33. Novocure Ltd has a one year low of $16.10 and a one year high of $49.45. The company has a market capitalization of $4.38 billion, a PE ratio of -69.00 and a beta of 3.34.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). The firm had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. Novocure had a negative return on equity of 52.34% and a negative net margin of 26.99%. Novocure’s revenue was up 60.2% compared to the same quarter last year. equities analysts forecast that Novocure Ltd will post -0.69 earnings per share for the current fiscal year.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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