Princeton Global Asset Management LLC trimmed its holdings in shares of Novocure Ltd (NASDAQ:NVCR) by 20.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 800 shares of the medical equipment provider’s stock after selling 200 shares during the period. Princeton Global Asset Management LLC’s holdings in Novocure were worth $59,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Novocure by 15.6% in the 2nd quarter. BlackRock Inc. now owns 5,554,632 shares of the medical equipment provider’s stock worth $351,218,000 after purchasing an additional 750,374 shares in the last quarter. Chicago Equity Partners LLC lifted its position in Novocure by 14.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 50,925 shares of the medical equipment provider’s stock valued at $3,220,000 after acquiring an additional 6,435 shares in the last quarter. Wedbush Securities Inc. bought a new position in Novocure in the 2nd quarter valued at approximately $241,000. Baillie Gifford & Co. boosted its stake in Novocure by 9.8% during the 2nd quarter. Baillie Gifford & Co. now owns 8,829,449 shares of the medical equipment provider’s stock valued at $558,287,000 after purchasing an additional 789,924 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Novocure by 13.8% during the 2nd quarter. Jennison Associates LLC now owns 16,032 shares of the medical equipment provider’s stock valued at $1,014,000 after purchasing an additional 1,940 shares during the last quarter. Hedge funds and other institutional investors own 66.78% of the company’s stock.
Several research analysts have recently weighed in on NVCR shares. Zacks Investment Research cut Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer increased their price objective on Novocure from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, September 13th. BidaskClub upgraded Novocure from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. restated a “hold” rating and issued a $79.00 target price on shares of Novocure in a report on Monday, November 4th. Finally, ValuEngine cut Novocure from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.33.
Novocure (NASDAQ:NVCR) last issued its quarterly 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. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. The business had revenue of $92.06 million for the quarter, compared to analysts’ expectations of $87.12 million. During the same quarter last year, the company posted ($0.13) EPS. The company’s revenue was up 42.2% compared to the same quarter last year. Equities analysts forecast that Novocure Ltd will post -0.13 earnings per share for the current fiscal year.
In other Novocure news, Chairman William F. Doyle sold 16,223 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $96.04, for a total transaction of $1,558,056.92. Following the completion of the sale, the chairman now owns 643,242 shares of the company’s stock, valued at $61,776,961.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Leung sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $72.28, for a total value of $361,400.00. Following the completion of the sale, the director now owns 74,504 shares of the company’s stock, valued at approximately $5,385,149.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,824 shares of company stock worth $52,240,450. 5.60% of the stock is owned by insiders.
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.
Further Reading: What is a Real Estate Investment Trust (REIT)?
Want to see what other hedge funds are holding NVCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novocure Ltd (NASDAQ:NVCR).
Receive News & Ratings for Novocure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novocure and related companies with MarketBeat.com's FREE daily email newsletter.