70,795 Shares in NovoCure Limited $NVCR Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. invested approximately $1.26 million in NovoCure Limited, acquiring 70,795 shares in the first quarter, representing about 0.06% of the company's stock.
• Multiple equities analysts recently set new price targets for NovoCure, with a consensus target price of $28.79 and ratings ranging from "buy" to "hold".
• NovoCure reported a 5.6% revenue increase year-over-year, with a quarterly revenue of $158.80 million, surpassing analysts' expectations.

American Century Companies Inc. bought a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 70,795 shares of the medical equipment provider's stock, valued at approximately $1,262,000. American Century Companies Inc. owned 0.06% of NovoCure at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVCR. GF Fund Management CO. LTD. bought a new position in NovoCure in the fourth quarter valued at approximately $68,000. Russell Investments Group Ltd. grew its stake in shares of NovoCure by 463.8% during the first quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider's stock worth $116,000 after buying an additional 5,371 shares during the last quarter. Wealthquest Corp bought a new stake in shares of NovoCure during the first quarter worth $129,000. AdvisorNet Financial Inc grew its stake in shares of NovoCure by 16.7% during the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock worth $187,000 after buying an additional 1,500 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in shares of NovoCure during the first quarter worth $194,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at NovoCure

In related news, CFO Christoph Brackmann acquired 20,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $11.59 per share, for a total transaction of $231,800.00. Following the transaction, the chief financial officer owned 141,150 shares in the company, valued at $1,635,928.50. This represents a 16.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashley Cordova bought 81,550 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $12.22 per share, for a total transaction of $996,541.00. Following the transaction, the chief executive officer owned 437,569 shares in the company, valued at $5,347,093.18. This trade represents a 22.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.52% of the company's stock.

NovoCure Stock Performance

NVCR traded down $0.10 on Tuesday, hitting $12.50. The company's stock had a trading volume of 158,569 shares, compared to its average volume of 1,221,084. The company's 50 day simple moving average is $13.62 and its 200-day simple moving average is $16.46. The firm has a market cap of $1.40 billion, a P/E ratio of -8.02 and a beta of 0.58. NovoCure Limited has a 12 month low of $10.87 and a 12 month 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.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share (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 analysts' expectations of $153.87 million. During the same period in the prior year, the company posted ($0.31) EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVCR shares. Piper Sandler reiterated an "overweight" rating and set a $34.00 price target on shares of NovoCure in a report on Friday, June 27th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $14.50 price target (down from $40.00) on shares of NovoCure in a research note on Friday, July 25th. Finally, LADENBURG THALM/SH SH began coverage on shares of NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price target for the company. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.79.

About NovoCure

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.