NovoCure Limited (NASDAQ:NVCR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 24.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 71,825 shares of the medical equipment provider’s stock after selling 23,797 shares during the period. Federated Hermes Inc.’s holdings in NovoCure were worth $9,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Financial Planning Inc. acquired a new stake in shares of NovoCure during the fourth quarter worth $26,000. NEXT Financial Group Inc acquired a new stake in shares of NovoCure during the fourth quarter worth $35,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of NovoCure during the fourth quarter worth $58,000. Wealthcare Advisory Partners LLC acquired a new stake in NovoCure in the first quarter valued at $64,000. Finally, State of Alaska Department of Revenue acquired a new stake in NovoCure in the first quarter valued at $70,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

NovoCure stock opened at $223.69 on Friday. The stock has a market cap of $23.13 billion, a PE ratio of 2,033.73 and a beta of 1.08. The stock’s 50-day moving average is $201.24. NovoCure Limited has a 52 week low of $55.40 and a 52 week high of $232.76. The company has a current ratio of 9.19, a quick ratio of 8.94 and a debt-to-equity ratio of 1.50.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 29th. The medical equipment provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $134.70 million for the quarter, compared to analysts’ expectations of $136.54 million. NovoCure had a return on equity of 3.30% and a net margin of 2.22%. Equities research analysts predict that NovoCure Limited will post 0.08 EPS for the current fiscal year.

A number of research firms have commented on NVCR. Wedbush reissued an “underperform” rating and issued a $154.00 target price (down previously from $159.00) on shares of NovoCure in a report on Tuesday, April 20th. Northland Securities raised their target price on NovoCure from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, April 14th. Zacks Investment Research downgraded NovoCure from a “hold” rating to a “sell” rating in a report on Wednesday, June 16th. Truist raised their price target on NovoCure from $132.00 to $142.00 in a research report on Monday, April 19th. Finally, Mizuho raised their price target on NovoCure from $175.00 to $242.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $195.71.

In other NovoCure news, insider Pritesh Shah sold 23,540 shares of NovoCure stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $215.00, for a total value of $5,061,100.00. Following the completion of the sale, the insider now owns 77,732 shares in the company, valued at approximately $16,712,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Asaf Danziger sold 97,973 shares of NovoCure stock in a transaction dated Tuesday, April 13th. The shares were sold at an average price of $196.34, for a total value of $19,236,018.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,355 shares of company stock valued at $48,078,335. 4.57% of the stock is currently owned by company insiders.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields delivery system for use as a monotherapy treatment for adult patients with glioblastoma.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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