Nuveen LLC Takes Position in NovoCure Limited $NVCR

Key Points

• Nuveen LLC acquired 693,768 shares of NovoCure Limited, investing approximately $12.36 million in the company, which represents an ownership stake of about 0.62%.
• Analyst ratings for NovoCure reflect a mix of perspectives, with a consensus rating of "Moderate Buy" and a price target of $28.79, while some firms have issued more cautious ratings.
• NovoCure's CFO recently purchased 20,000 shares at $11.59 each, increasing his ownership in the company significantly amidst a challenging stock performance.

Nuveen LLC bought a new stake in NovoCure Limited (NASDAQ:NVCR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 693,768 shares of the medical equipment provider's stock, valued at approximately $12,363,000. Nuveen LLC owned 0.62% of NovoCure at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in NovoCure by 77.7% in the 4th quarter. Ameriprise Financial Inc. now owns 22,883 shares of the medical equipment provider's stock valued at $682,000 after buying an additional 10,007 shares during the period. Teacher Retirement System of Texas increased its stake in NovoCure by 5.3% in the 1st quarter. Teacher Retirement System of Texas now owns 62,375 shares of the medical equipment provider's stock valued at $1,112,000 after buying an additional 3,123 shares during the period. SG Americas Securities LLC acquired a new position in NovoCure in the 1st quarter valued at $527,000. Mackenzie Financial Corp acquired a new position in NovoCure in the 4th quarter valued at $203,000. Finally, Raymond James Financial Inc. acquired a new position in NovoCure in the 4th quarter valued at $348,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Christoph Brackmann bought 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $11.59 per share, with a total value of $231,800.00. Following the purchase, the chief financial officer owned 141,150 shares of the company's stock, valued at $1,635,928.50. This trade represents a 16.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.52% of the company's stock.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $34.00 price objective on shares of NovoCure in a research note on Friday, June 27th. LADENBURG THALM/SH SH assumed coverage on shares of NovoCure in a research report on Tuesday, July 8th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $14.50 target price (down from $40.00) on shares of NovoCure in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.79.

NovoCure Price Performance

Shares of NovoCure stock traded up $0.08 on Wednesday, hitting $11.91. The company's stock had a trading volume of 980,729 shares, compared to its average volume of 1,849,811. NovoCure Limited has a 52-week low of $10.87 and a 52-week high of $34.13. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $14.41 and a 200-day moving average price of $17.06. The company has a market capitalization of $1.33 billion, a P/E ratio of -7.63 and a beta of 0.61.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.74%. The business had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. During the same period in the previous year, the firm earned ($0.31) EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

NovoCure Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.