Van ECK Associates Corp Acquires 2,845 Shares of NovoCure Limited (NASDAQ:NVCR)

Van ECK Associates Corp raised its position in shares of NovoCure Limited (NASDAQ:NVCR – Get Rating) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,377 shares of the medical equipment provider’s stock after purchasing an additional 2,845 shares during the quarter. Van ECK Associates Corp’s holdings in NovoCure were worth $1,201,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC purchased a new position in NovoCure during the fourth quarter valued at approximately $32,000. Whittier Trust Co. bought a new position in shares of NovoCure during the fourth quarter worth $54,000. Lazard Asset Management LLC boosted its position in shares of NovoCure by 12,975.0% during the third quarter. Lazard Asset Management LLC now owns 1,046 shares of the medical equipment provider’s stock worth $79,000 after acquiring an additional 1,038 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of NovoCure by 47.0% during the second quarter. Captrust Financial Advisors now owns 1,292 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 413 shares during the last quarter. Finally, CWM LLC boosted its position in shares of NovoCure by 12.9% during the fourth quarter. CWM LLC now owns 2,079 shares of the medical equipment provider’s stock worth $152,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.

Analyst Ratings Changes

NVCR has been the subject of a number of research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 target price (down previously from $99.00) on shares of NovoCure in a research report on Friday, March 17th. HC Wainwright dropped their target price on shares of NovoCure from $130.00 to $115.00 in a research report on Thursday, May 4th. Piper Sandler upped their target price on shares of NovoCure from $70.00 to $80.00 in a research report on Tuesday, January 17th. Finally, StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.83.

Insider Activity

In other news, insider Frank X. Leonard sold 1,684 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $76.36, for a total value of $128,590.24. Following the sale, the insider now owns 63,095 shares of the company’s stock, valued at $4,817,934.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Frank X. Leonard sold 2,059 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $77.64, for a total value of $159,860.76. Following the transaction, the insider now owns 67,893 shares of the company’s stock, valued at approximately $5,271,212.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank X. Leonard sold 1,684 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $76.36, for a total transaction of $128,590.24. Following the completion of the transaction, the insider now directly owns 63,095 shares in the company, valued at approximately $4,817,934.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,105 shares of company stock valued at $621,533. 6.22% of the stock is currently owned by company insiders.

NovoCure Price Performance

NVCR stock opened at $75.01 on Friday. NovoCure Limited has a 52 week low of $56.06 and a 52 week high of $120.03. The company has a quick ratio of 7.11, a current ratio of 7.32 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $64.48 and a two-hundred day simple moving average of $75.23. The firm has a market capitalization of $7.97 billion, a P/E ratio of -55.98 and a beta of 0.81.

NovoCure (NASDAQ:NVCR – Get Rating) last announced its earnings results on Thursday, May 4th. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). NovoCure had a negative net margin of 26.98% and a negative return on equity of 32.03%. The firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $127.93 million. During the same period in the prior year, the company posted ($0.04) EPS. The company’s revenue was down 11.1% compared to the same quarter last year. Analysts anticipate that NovoCure Limited will post -1.97 earnings per share for the current fiscal year.

NovoCure Company Profile

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NovoCure Ltd. is an oncology company which engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. Its platform is called the Tumor Treating Field which uses electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division.