Novocure Ltd (NASDAQ:NVCR) Chairman Sells $12,708,815.00 in Stock

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Novocure Ltd (NASDAQ:NVCR) Chairman William F. Doyle sold 133,777 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $95.00, for a total value of $12,708,815.00. Following the completion of the sale, the chairman now directly owns 509,465 shares in the company, valued at $48,399,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NVCR opened at $94.79 on Thursday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of -326.86 and a beta of 2.37. The company has a debt-to-equity ratio of 0.84, a quick ratio of 4.76 and a current ratio of 5.06. Novocure Ltd has a one year low of $41.51 and a one year high of $98.84. The stock’s fifty day moving average is $84.35 and its 200-day moving average is $81.40.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The company had revenue of $92.06 million for the quarter, compared to analyst estimates of $87.12 million. Novocure had a negative return on equity of 18.45% and a negative net margin of 8.43%. The company’s quarterly revenue was up 42.2% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. Analysts forecast that Novocure Ltd will post -0.12 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in Novocure during the fourth quarter valued at about $48,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Novocure by 9.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,287 shares of the medical equipment provider’s stock valued at $446,000 after purchasing an additional 474 shares during the period. Rhenman & Partners Asset Management AB boosted its position in shares of Novocure by 2.9% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 350,000 shares of the medical equipment provider’s stock valued at $29,495,000 after purchasing an additional 10,000 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Novocure by 6.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,330 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 140 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Novocure by 48.9% in the 4th quarter. IFP Advisors Inc now owns 1,184 shares of the medical equipment provider’s stock valued at $103,000 after purchasing an additional 389 shares during the period. 66.52% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Novocure in a report on Tuesday, January 14th. Mizuho reissued a “buy” rating and set a $91.00 price target on shares of Novocure in a report on Tuesday, January 7th. Wells Fargo & Co raised their price target on Novocure from $75.00 to $85.00 in a report on Thursday, December 12th. BidaskClub lowered Novocure from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Finally, ValuEngine lowered Novocure from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.14.

About Novocure

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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