Vanguard Group Inc. Purchases 502,368 Shares of NovoCure Limited $NVCR

Vanguard Group Inc. raised its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,958,209 shares of the medical equipment provider’s stock after purchasing an additional 502,368 shares during the period. Vanguard Group Inc. owned 0.10% of NovoCure worth $141,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP raised its stake in NovoCure by 163.6% during the third quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock valued at $2,526,000 after buying an additional 121,354 shares during the last quarter. Algert Global LLC grew its stake in shares of NovoCure by 372.2% in the third quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after acquiring an additional 538,235 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NovoCure by 104.2% during the third quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock valued at $3,646,000 after acquiring an additional 144,024 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of NovoCure by 140.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock worth $7,830,000 after purchasing an additional 354,216 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of NovoCure by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 1,218,807 shares of the medical equipment provider’s stock worth $15,747,000 after purchasing an additional 188,933 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

NVCR has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Tuesday, April 21st. Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, April 16th. HC Wainwright increased their price target on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Evercore restated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Finally, Wells Fargo & Company lifted their price objective on 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.29.

Insider Activity

In other news, COO Mukund Paravasthu sold 43,246 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the completion of the sale, the chief operating officer directly owned 72,832 shares in the company, valued at $1,002,896.64. This represents a 37.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman William F. Doyle sold 71,887 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total value of $933,093.26. Following the completion of the transaction, the chairman directly owned 328,397 shares in the company, valued at approximately $4,262,593.06. This represents a 17.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 140,041 shares of company stock worth $1,860,116. Company insiders own 5.52% of the company’s stock.

NovoCure Stock Performance

NVCR opened at $18.10 on Tuesday. The company’s 50 day moving average is $12.56 and its 200 day moving average is $12.55. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -11.83 and a beta of 0.90. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $20.06.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS 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 business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. During the same period in the prior year, the company posted ($0.31) earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts predict that NovoCure Limited will post -1.55 EPS for the current year.

NovoCure 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.