Insider Selling: Novocure Ltd (NASDAQ:NVCR) Director Sells 5,000 Shares of Stock

Novocure Ltd (NASDAQ:NVCR) Director Gabriel Leung sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $64.83, for a total value of $324,150.00. Following the transaction, the director now directly owns 74,504 shares in the company, valued at $4,830,094.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Gabriel Leung also recently made the following trade(s):

  • On Wednesday, June 19th, Gabriel Leung sold 25,000 shares of Novocure stock. The stock was sold at an average price of $60.02, for a total value of $1,500,500.00.
  • On Monday, June 10th, Gabriel Leung sold 5,000 shares of Novocure stock. The stock was sold at an average price of $55.05, for a total value of $275,250.00.
  • On Friday, May 10th, Gabriel Leung sold 5,000 shares of Novocure stock. The stock was sold at an average price of $49.79, for a total value of $248,950.00.

Shares of NVCR opened at $68.88 on Monday. The firm has a 50 day simple moving average of $58.39. Novocure Ltd has a 52-week low of $26.02 and a 52-week high of $69.59. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of -99.83 and a beta of 2.44. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.39 and a current ratio of 4.73.

Novocure (NASDAQ:NVCR) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. Novocure’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) EPS. On average, analysts anticipate that Novocure Ltd will post -0.17 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Strategic Financial Services Inc acquired a new stake in shares of Novocure during the 1st quarter valued at approximately $207,000. BlackRock Inc. grew its stake in shares of Novocure by 1.0% in the fourth quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after purchasing an additional 46,754 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Novocure in the fourth quarter valued at $461,000. PNC Financial Services Group Inc. lifted its holdings in shares of Novocure by 158.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,670 shares of the medical equipment provider’s stock valued at $290,000 after buying an additional 5,309 shares during the period. Finally, PRW Wealth Management LLC acquired a new stake in shares of Novocure in the fourth quarter valued at $36,000. 65.34% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on NVCR shares. Oppenheimer started coverage on Novocure in a research report on Friday, June 28th. They set an “outperform” rating and a $75.00 price target on the stock. SunTrust Banks started coverage on Zoetis in a research report on Tuesday, March 19th. They set a “hold” rating and a $100.00 price target on the stock. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research lowered Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, ValuEngine raised XOMA from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.44.

Novocure Company Profile

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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