Insider Selling: NovoCure (NASDAQ:NVCR) Director Sells $46,442.65 in Stock

NovoCure Limited (NASDAQ:NVCR) Director Kristin Stafford sold 2,945 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director owned 11,324 shares of the company’s stock, valued at $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Trading Down 4.6%

NovoCure stock opened at $17.16 on Friday. The firm has a 50 day simple moving average of $14.40 and a 200-day simple moving average of $13.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The stock has a market capitalization of $1.99 billion, a PE ratio of -11.22 and a beta of 0.93. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $19.25.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.31) earnings per share. As a group, equities research analysts expect that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVCR shares. HC Wainwright increased their price objective on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Evercore reiterated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.29.

Institutional Trading of NovoCure

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its position in shares of NovoCure by 453.4% in the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after acquiring an additional 4,153,741 shares in the last quarter. Soleus Capital Management L.P. lifted its position in shares of NovoCure by 25.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after acquiring an additional 1,382,888 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of NovoCure by 1,093.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock valued at $15,823,000 after acquiring an additional 1,121,192 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of NovoCure by 346.7% in the 1st quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider’s stock valued at $13,576,000 after acquiring an additional 966,735 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of NovoCure in the 4th quarter valued at approximately $11,991,000. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.