Quantamental Technologies LLC Makes New Investment in Novocure Ltd (NASDAQ:NVCR)
Quantamental Technologies LLC bought a new position in Novocure Ltd (NASDAQ:NVCR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,051 shares of the medical equipment provider’s stock, valued at approximately $66,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Novocure by 2.3% in the 1st quarter. Rhumbline Advisers now owns 97,690 shares of the medical equipment provider’s stock valued at $4,706,000 after purchasing an additional 2,155 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Novocure by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,980 shares of the medical equipment provider’s stock valued at $1,733,000 after purchasing an additional 1,020 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Novocure by 5.9% in the 1st quarter. Frontier Capital Management Co. LLC now owns 366,010 shares of the medical equipment provider’s stock valued at $17,631,000 after purchasing an additional 20,284 shares in the last quarter. Spark Investment Management LLC purchased a new stake in shares of Novocure in the 1st quarter valued at $2,774,000. Finally, TD Asset Management Inc. boosted its stake in shares of Novocure by 7.5% in the 1st quarter. TD Asset Management Inc. now owns 60,400 shares of the medical equipment provider’s stock valued at $2,909,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors own 66.50% of the company’s stock.
In related news, CFO Wilhelmus Cm Groenhuysen sold 25,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.83, for a total value of $2,020,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,179 shares of the company’s stock, valued at $9,067,428.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Asaf Danziger sold 190,338 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $59.37, for a total transaction of $11,300,367.06. Following the completion of the sale, the chief executive officer now directly owns 448,649 shares of the company’s stock, valued at $26,636,291.13. The disclosure for this sale can be found here. Insiders have sold a total of 909,022 shares of company stock valued at $65,015,952 in the last three months. 5.60% of the stock is currently owned by corporate insiders.
NVCR traded down $0.01 during trading on Friday, hitting $80.24. 8,423 shares of the stock traded hands, compared to its average volume of 951,421. The firm has a market capitalization of $7.88 billion, a P/E ratio of -116.28 and a beta of 2.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.03 and a quick ratio of 4.68. The firm has a 50-day moving average of $86.81 and a 200 day moving average of $61.61. Novocure Ltd has a 12-month low of $26.02 and a 12-month high of $98.70.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The business had revenue of $86.70 million during the quarter, compared to analysts’ expectations of $78.98 million. Novocure had a negative net margin of 13.84% and a negative return on equity of 31.80%. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) EPS. As a group, equities analysts predict that Novocure Ltd will post -0.22 EPS for the current fiscal year.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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