Arizona State Retirement System Raises Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Arizona State Retirement System lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCRGet Rating) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,009 shares of the medical equipment provider’s stock after purchasing an additional 611 shares during the quarter. Arizona State Retirement System’s holdings in NovoCure were worth $2,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bellwether Advisors LLC boosted its stake in NovoCure by 1,108.1% in the first quarter. Bellwether Advisors LLC now owns 447 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 410 shares in the last quarter. National Bank of Canada FI purchased a new stake in NovoCure in the fourth quarter worth approximately $36,000. Signaturefd LLC boosted its stake in NovoCure by 60.4% in the fourth quarter. Signaturefd LLC now owns 523 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 197 shares in the last quarter. Nauset Wealth Management. LLC purchased a new stake in NovoCure in the first quarter worth approximately $50,000. Finally, Parallel Advisors LLC boosted its stake in NovoCure by 50.6% in the first quarter. Parallel Advisors LLC now owns 673 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Insider Activity

In other news, Director Jeryl L. Hilleman sold 407 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $69.61, for a total transaction of $28,331.27. Following the sale, the director now owns 2,537 shares in the company, valued at approximately $176,600.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVCR. HC Wainwright began coverage on NovoCure in a research note on Monday, May 16th. They set a “buy” rating and a $115.00 price objective for the company. Truist Financial dropped their price objective on NovoCure from $118.00 to $105.00 and set a “maintains” rating for the company in a research note on Friday. StockNews.com raised NovoCure from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Piper Sandler dropped their price objective on NovoCure from $100.00 to $90.00 in a research note on Thursday. Finally, Evercore ISI lowered NovoCure from an “in-line” rating to an “underperform” rating and set a $55.00 price objective for the company. in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.71.

NovoCure Price Performance

Shares of NovoCure stock opened at $67.99 on Monday. The company has a quick ratio of 8.23, a current ratio of 8.46 and a debt-to-equity ratio of 1.29. The company has a market cap of $7.11 billion, a PE ratio of -121.41 and a beta of 0.96. The business has a 50 day moving average of $72.38 and a 200 day moving average of $74.50. NovoCure Limited has a 52 week low of $56.39 and a 52 week high of $164.80.

NovoCure (NASDAQ:NVCRGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.09). NovoCure had a negative return on equity of 14.21% and a negative net margin of 10.94%. The firm had revenue of $140.90 million during the quarter, compared to the consensus estimate of $135.13 million. During the same quarter last year, the company posted ($0.14) EPS. NovoCure’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that NovoCure Limited will post -0.55 earnings per share for the current year.

NovoCure Company Profile

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NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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