Insider Selling: Novocure Ltd (NASDAQ:NVCR) Director Sells 6,145 Shares of Stock

Novocure Ltd (NASDAQ:NVCR) Director Charles G. Phillips III sold 6,145 shares of Novocure stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $88.11, for a total transaction of $541,435.95. Following the sale, the director now directly owns 3,359 shares of the company’s stock, valued at approximately $295,961.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NASDAQ NVCR traded up $0.04 during trading on Wednesday, reaching $89.07. 560,829 shares of the stock traded hands, compared to its average volume of 734,408. Novocure Ltd has a fifty-two week low of $28.83 and a fifty-two week high of $98.70. The company has a quick ratio of 4.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.84. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -129.14 and a beta of 2.43. The stock’s 50-day moving average price is $80.96 and its 200 day moving average price is $74.31.

Novocure (NASDAQ:NVCR) last posted its earnings results on Thursday, October 31st. The medical equipment provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $92.06 million for the quarter, compared to analyst estimates of $87.12 million. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. The business’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same period last year, the business posted ($0.13) earnings per share. Analysts anticipate that Novocure Ltd will post -0.13 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in NVCR. Point72 Hong Kong Ltd raised its stake in Novocure by 1,337.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 468 shares during the period. Legacy Bridge LLC lifted its holdings in Novocure by 666.7% during the third quarter. Legacy Bridge LLC now owns 460 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Novocure during the third quarter worth about $48,000. Princeton Global Asset Management LLC acquired a new position in Novocure in the second quarter valued at about $63,000. Finally, Quantamental Technologies LLC acquired a new position in Novocure in the second quarter valued at about $66,000. 66.78% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on NVCR. Zacks Investment Research downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer lifted their price objective on Novocure from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $79.00 price objective on shares of Novocure in a research note on Monday, November 4th. ValuEngine downgraded Novocure from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised Novocure from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.33.

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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