Michal Nath Puri Sells 810 Shares of NovoCure Limited (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 810 shares of NovoCure stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $15.79, for a total transaction of $12,789.90. Following the completion of the sale, the insider now owns 110,093 shares of the company’s stock, valued at $1,738,368.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NovoCure Price Performance

Shares of NovoCure stock traded up $0.41 during midday trading on Monday, hitting $16.59. 810,704 shares of the company traded hands, compared to its average volume of 1,308,836. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $24.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.22 and a current ratio of 1.49. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -11.91 and a beta of 0.71. The firm’s fifty day moving average price is $16.76 and its 200-day moving average price is $17.96.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same period in the previous year, the firm posted ($0.46) EPS. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts forecast that NovoCure Limited will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp lifted its position in shares of NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after acquiring an additional 557 shares during the period. Arizona State Retirement System raised its holdings in NovoCure by 2.1% during the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares during the last quarter. Signaturefd LLC raised its holdings in NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 701 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in NovoCure during the second quarter worth $28,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NVCR has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a research note on Thursday. Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, Wedbush restated an “outperform” rating and issued a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, NovoCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.17.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.