NovoCure Limited (NVCR) Insider Yoram Palti Sells 30,000 Shares
NovoCure Limited (NASDAQ:NVCR) insider Yoram Palti sold 30,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $17.13, for a total value of $513,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Yoram Palti also recently made the following trade(s):
- On Thursday, November 9th, Yoram Palti sold 30,000 shares of NovoCure Limited stock. The stock was sold at an average price of $18.25, for a total value of $547,500.00.
- On Tuesday, November 7th, Yoram Palti sold 60,000 shares of NovoCure Limited stock. The stock was sold at an average price of $21.06, for a total value of $1,263,600.00.
- On Thursday, November 2nd, Yoram Palti sold 30,000 shares of NovoCure Limited stock. The stock was sold at an average price of $21.78, for a total value of $653,400.00.
NovoCure Limited (NVCR) traded down $0.25 during mid-day trading on Tuesday, hitting $17.05. The stock had a trading volume of 783,400 shares, compared to its average volume of 853,648. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. NovoCure Limited has a 52 week low of $6.00 and a 52 week high of $22.30.
NovoCure Limited (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.07. The company had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. NovoCure Limited’s revenue for the quarter was up 130.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) earnings per share. equities research analysts anticipate that NovoCure Limited will post -0.63 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of NovoCure Limited by 61.7% during the first quarter. Bank of America Corp DE now owns 37,531 shares of the medical equipment provider’s stock worth $305,000 after buying an additional 14,321 shares during the period. Gotham Asset Management LLC acquired a new position in shares of NovoCure Limited during the second quarter worth about $534,000. ETF Managers Group LLC acquired a new position in NovoCure Limited during the second quarter valued at approximately $408,000. River & Mercantile Asset Management LLP boosted its position in NovoCure Limited by 9.9% during the second quarter. River & Mercantile Asset Management LLP now owns 127,520 shares of the medical equipment provider’s stock valued at $2,203,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in NovoCure Limited during the second quarter valued at approximately $362,000. 36.21% of the stock is owned by institutional investors.
Several brokerages have issued reports on NVCR. Deutsche Bank AG restated a “hold” rating and issued a $19.00 price target (up from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. BidaskClub upgraded NovoCure Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Mizuho began coverage on NovoCure Limited in a report on Wednesday, September 6th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of NovoCure Limited in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. NovoCure Limited currently has a consensus rating of “Buy” and a consensus price target of $21.00.
About NovoCure Limited
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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