Voloridge Investment Management LLC Grows Stock Position in Novocure Ltd (NASDAQ:NVCR)

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Voloridge Investment Management LLC raised its position in Novocure Ltd (NASDAQ:NVCR) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,173 shares of the medical equipment provider’s stock after acquiring an additional 10,974 shares during the quarter. Voloridge Investment Management LLC’s holdings in Novocure were worth $3,004,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Point72 Hong Kong Ltd raised its stake in shares of Novocure by 1,337.1% during the second quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 468 shares during the period. Legacy Bridge LLC lifted its position in shares of 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 purchasing an additional 400 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Novocure in the third quarter valued at $48,000. Princeton Global Asset Management LLC purchased a new position in shares of Novocure in the second quarter valued at $63,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Novocure in the second quarter valued at $66,000. 66.78% of the stock is owned by institutional investors.

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

In other Novocure news, Chairman William F. Doyle sold 29,782 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.11, for a total transaction of $2,385,836.02. Following the transaction, the chairman now directly owns 822,683 shares in the company, valued at approximately $65,905,135.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Asaf Danziger sold 103,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $95.00, for a total transaction of $9,785,000.00. Following the transaction, the chief executive officer now directly owns 237,601 shares of the company’s stock, valued at $22,572,095. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,824 shares of company stock valued at $52,240,450. Insiders own 5.60% of the company’s stock.

Shares of NVCR opened at $88.23 on Tuesday. The business’s 50 day moving average is $80.72 and its two-hundred day moving average is $74.11. Novocure Ltd has a 52-week low of $28.83 and a 52-week high of $98.70. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -127.87 and a beta of 2.43. The company has a quick ratio of 4.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.84.

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

Novocure 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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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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