Sheets Smith Wealth Management Buys Shares of 2,692 NovoCure Limited (NASDAQ:NVCR)
Sheets Smith Wealth Management bought a new stake in shares of NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,692 shares of the medical equipment provider’s stock, valued at approximately $466,000.
A number of other institutional investors have also recently bought and sold shares of NVCR. BlackRock Inc. lifted its stake in shares of NovoCure by 39.0% in the 3rd quarter. BlackRock Inc. now owns 5,976,306 shares of the medical equipment provider’s stock worth $665,223,000 after acquiring an additional 1,676,559 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of NovoCure by 1,432.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 584,934 shares of the medical equipment provider’s stock worth $65,110,000 after acquiring an additional 546,766 shares during the period. Two Sigma Advisers LP lifted its stake in shares of NovoCure by 42.0% in the 2nd quarter. Two Sigma Advisers LP now owns 885,500 shares of the medical equipment provider’s stock worth $52,510,000 after acquiring an additional 262,100 shares during the period. Scout Investments Inc. acquired a new stake in shares of NovoCure in the 3rd quarter worth approximately $11,451,000. Finally, Federated Hermes Inc. acquired a new stake in shares of NovoCure in the 3rd quarter worth approximately $7,330,000. 63.41% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on NVCR. Northland Securities began coverage on shares of NovoCure in a research note on Wednesday, September 23rd. They issued an “outperform” rating for the company. Wells Fargo & Company lowered shares of NovoCure from an “overweight” rating to an “equal weight” rating and set a $116.00 price target for the company. in a research note on Friday, September 18th. They noted that the move was a valuation call. BidaskClub downgraded shares of NovoCure from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 7th. Zacks Investment Research downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a report on Tuesday, October 27th. Finally, Mizuho boosted their target price on shares of NovoCure from $84.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. NovoCure presently has an average rating of “Hold” and an average price target of $107.67.
NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. NovoCure had a net margin of 4.26% and a return on equity of 7.40%. The business had revenue of $132.70 million for the quarter, compared to analyst estimates of $120.02 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s revenue was up 44.1% compared to the same quarter last year. Equities research analysts predict that NovoCure Limited will post 0.21 EPS for the current fiscal year.
In other news, insider Ely Benaim sold 2,484 shares of the business’s stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $156.71, for a total transaction of $389,267.64. Following the sale, the insider now owns 31,189 shares in the company, valued at $4,887,628.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeryl L. Hilleman sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 18th. The shares were sold at an average price of $166.40, for a total transaction of $416,000.00. Following the sale, the director now owns 3,400 shares in the company, valued at approximately $565,760. The disclosure for this sale can be found here. Insiders have sold 213,124 shares of company stock worth $33,555,227 in the last 90 days. 5.07% of the stock is owned by company insiders.
NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and NovoTTF-100L, a Tumor Treating Fields delivery system for use as a monotherapy treatment for adult patients with glioblastoma.
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