Private Advisor Group LLC Sells 663 Shares of NovoCure Limited (NASDAQ:NVCR)

Private Advisor Group LLC decreased its position in NovoCure Limited (NASDAQ:NVCR) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,764 shares of the medical equipment provider’s stock after selling 663 shares during the quarter. Private Advisor Group LLC’s holdings in NovoCure were worth $1,279,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NVCR. Capital International Investors grew its position in shares of NovoCure by 10.4% in the first quarter. Capital International Investors now owns 9,117,624 shares of the medical equipment provider’s stock valued at $1,205,168,000 after purchasing an additional 862,354 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of NovoCure by 4.9% in the second quarter. Baillie Gifford & Co. now owns 9,301,081 shares of the medical equipment provider’s stock valued at $2,063,165,000 after purchasing an additional 437,149 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of NovoCure by 12,279.9% in the second quarter. Frontier Capital Management Co. LLC now owns 359,266 shares of the medical equipment provider’s stock valued at $79,692,000 after purchasing an additional 356,364 shares during the last quarter. Credit Suisse AG grew its position in shares of NovoCure by 8.5% in the first quarter. Credit Suisse AG now owns 1,632,851 shares of the medical equipment provider’s stock valued at $215,832,000 after purchasing an additional 127,392 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of NovoCure by 37.1% in the first quarter. Renaissance Technologies LLC now owns 408,575 shares of the medical equipment provider’s stock valued at $54,005,000 after purchasing an additional 110,605 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $235.00 price target (down previously from $240.00) on shares of NovoCure in a research report on Thursday, July 29th. Mizuho reduced their price target on NovoCure from $229.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, July 30th. Wells Fargo & Company reduced their price target on NovoCure from $215.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, July 30th. Zacks Investment Research raised NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday, August 3rd. Finally, TheStreet downgraded NovoCure from a “c” rating to a “d+” rating in a research report on Friday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, NovoCure presently has an average rating of “Hold” and an average target price of $186.14.

NASDAQ NVCR opened at $111.58 on Thursday. The business has a fifty day moving average price of $130.80 and a two-hundred day moving average price of $168.09. The company has a debt-to-equity ratio of 1.41, a current ratio of 9.00 and a quick ratio of 8.77. NovoCure Limited has a fifty-two week low of $108.31 and a fifty-two week high of $232.76. The stock has a market capitalization of $11.57 billion, a PE ratio of -2,231.15 and a beta of 1.10.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, July 29th. The medical equipment provider reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.16). NovoCure had a negative return on equity of 1.18% and a negative net margin of 0.84%. The business had revenue of $133.52 million for the quarter, compared to the consensus estimate of $141.50 million. As a group, sell-side analysts expect that NovoCure Limited will post -0.27 earnings per share for the current year.

In other news, COO Wilhelmus Cm Groenhuysen sold 181 shares of the stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $138.23, for a total value of $25,019.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashley Cordova sold 26,624 shares of the stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $140.94, for a total value of $3,752,386.56. Following the completion of the transaction, the chief financial officer now owns 45,993 shares of the company’s stock, valued at $6,482,253.42. The disclosure for this sale can be found here. Insiders have sold 31,457 shares of company stock valued at $4,462,051 over the last 90 days. Corporate insiders own 5.07% of the company’s stock.

NovoCure Profile

NovoCure Ltd. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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