Stifel Financial Corp Acquires New Holdings in Novocure Ltd (NVCR)

Stifel Financial Corp acquired a new position in Novocure Ltd (NASDAQ:NVCR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 89,466 shares of the medical equipment provider’s stock, valued at approximately $1,778,000. Stifel Financial Corp owned 0.10% of Novocure as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVCR. Goldman Sachs Group Inc. lifted its holdings in Novocure by 6,617.7% in the second quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock worth $86,293,000 after purchasing an additional 4,913,755 shares during the period. FMR LLC lifted its holdings in Novocure by 50.4% in the second quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock worth $119,165,000 after purchasing an additional 2,309,559 shares during the period. Vanguard Group Inc. lifted its holdings in Novocure by 40.5% in the second quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock worth $74,111,000 after purchasing an additional 1,235,922 shares during the period. PointState Capital LP acquired a new stake in Novocure in the second quarter worth about $5,744,000. Finally, Cortina Asset Management LLC acquired a new stake in Novocure in the third quarter worth about $5,112,000. 41.53% of the stock is owned by institutional investors and hedge funds.

Shares of Novocure Ltd (NASDAQ:NVCR) opened at $20.25 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30. Novocure Ltd has a 1 year low of $6.00 and a 1 year high of $22.30. The company has a market cap of $1,810.00 and a PE ratio of -24.40.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. Novocure had a negative net margin of 47.45% and a negative return on equity of 57.68%. The firm had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $43.45 million. During the same period in the previous year, the business earned ($0.39) earnings per share. Novocure’s revenue for the quarter was up 130.9% compared to the same quarter last year. equities analysts anticipate that Novocure Ltd will post -0.65 EPS for the current year.

Several research firms recently weighed in on NVCR. Zacks Investment Research raised shares of Novocure from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, October 31st. Mizuho reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Novocure in a report on Friday, December 1st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Novocure in a report on Monday, November 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Novocure in a research report on Friday, October 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Novocure has a consensus rating of “Buy” and an average price target of $21.00.

In other Novocure news, insider Yoram Palti sold 30,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.13, for a total value of $513,900.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Asaf Danziger sold 15,866 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total transaction of $349,210.66. Following the completion of the sale, the chief executive officer now owns 774,040 shares in the company, valued at $17,036,620.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 227,181 shares of company stock worth $4,677,052. 16.70% of the stock is owned by company insiders.

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About Novocure

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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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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