Sei Investments Co. Buys 89,839 Shares of NovoCure Limited $NVCR

Sei Investments Co. increased its stake in NovoCure Limited (NASDAQ:NVCR) by 367.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,281 shares of the medical equipment provider’s stock after acquiring an additional 89,839 shares during the quarter. Sei Investments Co. owned about 0.10% of NovoCure worth $1,246,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in NovoCure by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after purchasing an additional 502,368 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of NovoCure in the 1st quarter valued at $1,028,000. Eversept Partners LP bought a new stake in shares of NovoCure in the 4th quarter valued at $1,564,000. Dimensional Fund Advisors LP increased its position in shares of NovoCure by 27.6% during the first quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock worth $10,462,000 after buying an additional 207,913 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of NovoCure by 346.7% during the first quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider’s stock worth $13,576,000 after buying an additional 966,735 shares during the period. 84.61% of the stock is currently owned by institutional investors.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $17.66 on Wednesday. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $21.45. The stock’s 50 day moving average is $16.34 and its 200-day moving average is $14.33. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.58 and a beta of 0.96.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.20. The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. NovoCure’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) EPS. Sell-side analysts forecast that NovoCure Limited will post -1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVCR. Evercore restated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. JPMorgan Chase & Co. started coverage on NovoCure in a report on Monday, July 13th. They set a “neutral” rating and a $17.00 price target for the company. Wall Street Zen raised NovoCure from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NovoCure presently has an average rating of “Hold” and an average price target of $21.20.

Insider Transactions at NovoCure

In other news, Director Allyson J. Ocean sold 2,945 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 11,324 shares of the company’s stock, valued at $178,579.48. The trade was a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.93, for a total transaction of $614,514.89. Following the completion of the sale, the chief executive officer owned 459,520 shares in the company, valued at $8,239,193.60. This represents a 6.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 51,943 shares of company stock valued at $893,171. Corporate insiders own 6.55% of the company’s stock.

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.