Kristin Stafford Sells 2,945 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) Director Kristin Stafford sold 2,945 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director owned 11,324 shares of the company’s stock, valued at approximately $178,579.48. The trade was a 20.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Trading Up 11.4%

Shares of NovoCure stock opened at $17.99 on Friday. The company has a fifty day simple moving average of $14.29 and a 200-day simple moving average of $13.19. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $19.25. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -11.76 and a beta of 0.93.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Institutional Trading of NovoCure

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in NovoCure by 3.0% in the third quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock valued at $405,000 after buying an additional 916 shares during the period. Larson Financial Group LLC raised its holdings in NovoCure by 25.2% in the fourth quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock valued at $66,000 after buying an additional 1,033 shares during the period. Alliancebernstein L.P. raised its holdings in NovoCure by 0.8% in the third quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock valued at $1,771,000 after buying an additional 1,076 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares during the period. Finally, Strs Ohio raised its holdings in NovoCure by 2.2% in the first quarter. Strs Ohio now owns 59,400 shares of the medical equipment provider’s stock valued at $647,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVCR. Wells Fargo & Company upped their target price on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Evercore reiterated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. HC Wainwright increased their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock 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 note on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.29.

NovoCure Company 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.