Novocure Ltd (NASDAQ:NVCR) Director Gabriel Leung sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now owns 80,000 shares in the company, valued at $3,600,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Gabriel Leung also recently made the following trade(s):
- On Wednesday, January 9th, Gabriel Leung sold 20,000 shares of Novocure stock. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00.
- On Monday, December 10th, Gabriel Leung sold 5,000 shares of Novocure stock. The stock was sold at an average price of $33.49, for a total transaction of $167,450.00.
Shares of NVCR opened at $46.45 on Friday. The stock has a market capitalization of $4.21 billion, a P/E ratio of -66.36 and a beta of 2.86. Novocure Ltd has a 1-year low of $19.20 and a 1-year high of $53.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.72 and a current ratio of 6.17.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.02. The firm had revenue of $64.76 million for the quarter, compared to analysts’ expectations of $65.61 million. Novocure had a negative return on equity of 52.72% and a negative net margin of 25.37%. As a group, equities analysts forecast that Novocure Ltd will post -0.68 EPS for the current year.
Several brokerages have commented on NVCR. Zacks Investment Research cut shares of Novocure from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Mizuho reiterated a “buy” rating and issued a $58.00 price target on shares of Novocure in a research report on Friday, October 19th. BidaskClub cut shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. ValuEngine cut shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Wells Fargo & Co cut shares of Novocure from an “outperform” rating to a “market perform” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Novocure presently has an average rating of “Buy” and an average target price of $48.00.
Institutional investors and hedge funds have recently modified their holdings of the stock. Credit Suisse AG increased its stake in Novocure by 87.2% in the 3rd quarter. Credit Suisse AG now owns 945,654 shares of the medical equipment provider’s stock worth $49,552,000 after purchasing an additional 440,543 shares in the last quarter. BlackRock Inc. increased its stake in Novocure by 22.4% in the 2nd quarter. BlackRock Inc. now owns 4,620,546 shares of the medical equipment provider’s stock worth $144,623,000 after purchasing an additional 846,277 shares in the last quarter. FMR LLC increased its stake in Novocure by 37.9% in the 3rd quarter. FMR LLC now owns 10,845,246 shares of the medical equipment provider’s stock worth $568,292,000 after purchasing an additional 2,983,125 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in Novocure by 2.8% in the 3rd quarter. Essex Investment Management Co. LLC now owns 169,127 shares of the medical equipment provider’s stock worth $8,862,000 after purchasing an additional 4,550 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Novocure in the 3rd quarter worth about $1,609,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.
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Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.
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