Swiss National Bank Sells 3,100 Shares of NovoCure Limited $NVCR

Swiss National Bank lowered its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 199,100 shares of the medical equipment provider’s stock after selling 3,100 shares during the quarter. Swiss National Bank owned 0.18% of NovoCure worth $3,548,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NVCR. GeoWealth Management LLC bought a new position in shares of NovoCure during the 4th quarter valued at approximately $27,000. GF Fund Management CO. LTD. bought a new position in NovoCure in the 4th quarter valued at $68,000. Wealthquest Corp bought a new position in NovoCure in the 1st quarter valued at $129,000. AdvisorNet Financial Inc grew its position in NovoCure by 16.7% in the 1st quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider’s stock valued at $187,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new position in NovoCure in the 1st quarter valued at $194,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NVCR stock opened at $11.78 on Thursday. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $34.13. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -7.55 and a beta of 0.61. The stock has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $17.46. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $153.87 million. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.31) earnings per share. On average, analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christoph Brackmann bought 20,000 shares of NovoCure stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $11.59 per share, for a total transaction of $231,800.00. Following the completion of the acquisition, the chief financial officer owned 141,150 shares of the company’s stock, valued at $1,635,928.50. This trade represents a 16.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NVCR shares. LADENBURG THALM/SH SH started coverage on NovoCure in a research report on Tuesday, July 8th. They issued a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen downgraded NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of NovoCure in a research report on Friday, June 27th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $14.50 price objective (down previously from $40.00) on shares of NovoCure in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and an average price target of $28.79.

NovoCure Company Profile

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, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.