Capital World Investors Sells 4,382,848 Shares of NovoCure Limited $NVCR

Capital World Investors trimmed its holdings in NovoCure Limited (NASDAQ:NVCR) by 68.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000,000 shares of the medical equipment provider’s stock after selling 4,382,848 shares during the period. Capital World Investors’ holdings in NovoCure were worth $25,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System grew its position in shares of NovoCure by 3.0% during the third quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock worth $405,000 after purchasing an additional 916 shares in the last quarter. Rhumbline Advisers lifted its holdings in NovoCure by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 152,749 shares of the medical equipment provider’s stock worth $2,719,000 after purchasing an additional 1,797 shares in the last quarter. Choreo LLC lifted its holdings in NovoCure by 15.0% in the 2nd quarter. Choreo LLC now owns 15,247 shares of the medical equipment provider’s stock worth $271,000 after purchasing an additional 1,994 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NovoCure by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after purchasing an additional 2,502 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its stake in NovoCure by 2.2% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 139,900 shares of the medical equipment provider’s stock worth $2,490,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NovoCure stock opened at $12.01 on Friday. The company’s 50-day moving average price is $12.70 and its 200-day moving average price is $12.73. The company has a quick ratio of 2.71, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.37 billion, a PE ratio of -9.84 and a beta of 0.71. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $20.87.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The firm had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. During the same quarter last year, the firm earned ($0.61) EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mukund Paravasthu sold 43,246 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total transaction of $595,497.42. Following the transaction, the chief operating officer owned 72,832 shares of the company’s stock, valued at approximately $1,002,896.64. The trade was a 37.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Uri Weinberg sold 6,412 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $85,343.72. Following the sale, the insider owned 267,190 shares in the company, valued at $3,556,298.90. The trade was a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 140,041 shares of company stock worth $1,860,116. 5.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVCR has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. HC Wainwright raised their target price on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Evercore set a $20.00 price target on shares of NovoCure in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.93.

NovoCure Company Profile

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.