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

NovoCure Limited (NASDAQ:NVCR) Director Jeryl Hilleman sold 2,945 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director directly owned 13,861 shares of the company’s stock, valued at $218,587.97. This represents a 17.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Stock Down 4.6%

NVCR stock opened at $17.16 on Friday. The stock has a market capitalization of $1.99 billion, a P/E ratio of -11.22 and a beta of 0.93. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $19.25. The firm has a 50-day moving average price of $14.40 and a 200-day moving average price of $13.22.

NovoCure (NASDAQ:NVCR) last posted 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). The company had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted ($0.31) EPS. As a group, equities research analysts anticipate that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amundi raised its holdings in NovoCure by 19.9% in the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock valued at $519,000 after buying an additional 7,907 shares during the last quarter. California State Teachers Retirement System raised its holdings in NovoCure by 43.6% in the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock valued at $1,554,000 after buying an additional 43,257 shares during the last quarter. Eversept Partners LP raised its holdings in NovoCure by 11.5% in the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock valued at $1,471,000 after buying an additional 13,939 shares during the last quarter. Quantinno Capital Management LP raised its holdings in NovoCure by 23.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after buying an additional 477,128 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in NovoCure by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,551,554 shares of the medical equipment provider’s stock valued at $16,912,000 after buying an additional 163,800 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.