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

NovoCure Limited (NASDAQ:NVCR) Director Allyson Ocean sold 2,945 shares of the stock in a transaction 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 sale, the director directly owned 11,324 shares of the company’s stock, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Price Performance

Shares of NovoCure stock opened at $17.16 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $19.25. The firm has a fifty day moving average price of $14.40 and a two-hundred day moving average price of $13.22. The company has a market cap of $1.99 billion, a PE ratio of -11.22 and a beta of 0.93.

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

Hedge Funds Weigh In On NovoCure

Several institutional investors have recently added to or reduced their stakes in NVCR. AQR Capital Management LLC lifted its holdings in NovoCure by 56.7% during the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 10,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after purchasing an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after purchasing an additional 52,180 shares during the last quarter. Acadian Asset Management LLC bought a new position in NovoCure during the 1st quarter valued at about $87,000. Finally, Prudential Financial Inc. bought a new position in NovoCure during the 2nd quarter valued at about $216,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NVCR shares. Wedbush reissued a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Thursday, April 16th. HC Wainwright raised their price objective on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Finally, Wells Fargo & Company raised their price objective 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.29.

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.