NovoCure Limited $NVCR Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,218,807 shares of the medical equipment provider’s stock after buying an additional 188,933 shares during the quarter. American Century Companies Inc. owned about 1.09% of NovoCure worth $15,747,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NVCR. SJS Investment Consulting Inc. bought a new stake in NovoCure in the 3rd quarter valued at about $41,000. Headlands Technologies LLC acquired a new position in NovoCure during the 2nd quarter valued at about $88,000. Acadian Asset Management LLC bought a new position in NovoCure in the 1st quarter worth about $87,000. State of Tennessee Department of Treasury bought a new position in NovoCure in the 2nd quarter worth about $129,000. Finally, AdvisorNet Financial Inc increased its stake in shares of NovoCure by 137.7% in the third quarter. AdvisorNet Financial Inc now owns 9,700 shares of the medical equipment provider’s stock valued at $125,000 after purchasing an additional 5,619 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Trading Down 1.2%

NovoCure stock opened at $12.75 on Wednesday. The firm has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $12.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 2.71. The stock has a market capitalization of $1.45 billion, a PE ratio of -10.45 and a beta of 0.71. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $21.55.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The firm had revenue of $174.35 million for the quarter, compared to analysts’ expectations of $174.40 million. During the same quarter in the previous year, the company earned ($0.61) earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVCR has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Evercore set a $20.00 target price on NovoCure in a research report on Monday, January 5th. HC Wainwright lifted their target price on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wedbush reiterated a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.93.

Insider Activity

In other news, CFO Christoph Brackmann sold 6,412 shares of NovoCure stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $85,343.72. Following the transaction, the chief financial officer owned 182,842 shares of the company’s stock, valued at $2,433,627.02. The trade was a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank X. Leonard sold 5,607 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $74,629.17. Following the completion of the sale, the chief executive officer owned 493,793 shares in the company, valued at $6,572,384.83. The trade was a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,041 shares of company stock valued at $1,860,116 over the last quarter. Insiders own 5.52% of the company’s stock.

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.