Capital World Investors Lowers Holdings in NovoCure Limited $NVCR

Key Points

• Capital World Investors cut its NovoCure stake by 68.7% in Q3, selling 4,382,848 shares and leaving 2,000,000 shares (about a 1.79% stake) valued at $25.84 million.
• Analysts are mixed—three Buy, three Hold and one Sell—giving NovoCure an average rating of "Hold" and an average price target of $26.93, with individual targets ranging roughly from $18 to $49.
• Quarterly results showed an EPS beat (loss of $0.22 vs. estimated loss of $0.41) with revenue of $174.35M (+8.2% YoY), while insiders have sold 140,041 shares (~$1.86M) in the past 90 days.

Capital World Investors decreased its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 68.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000,000 shares of the medical equipment provider's stock after selling 4,382,848 shares during the period. Capital World Investors owned approximately 1.79% of NovoCure worth $25,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVCR. SJS Investment Consulting Inc. purchased a new position in NovoCure in the third quarter worth about $41,000. Headlands Technologies LLC purchased a new stake in shares of NovoCure during the second quarter valued at approximately $88,000. Acadian Asset Management LLC bought a new stake in shares of NovoCure during the first quarter valued at approximately $87,000. State of Tennessee Department of Treasury bought a new stake in shares of NovoCure during the second quarter valued at approximately $129,000. Finally, AdvisorNet Financial Inc raised its holdings in NovoCure by 137.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 9,700 shares of the medical equipment provider's stock worth $125,000 after acquiring an additional 5,619 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVCR shares. Evercore set a $20.00 price objective on NovoCure in a research report on Monday, January 5th. Wedbush restated a "neutral" rating and issued a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NovoCure in a report on Thursday, January 22nd. Finally, HC Wainwright increased their price objective on NovoCure from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NovoCure currently has an average rating of "Hold" and an average target price of $26.93.

NovoCure Stock Performance

NASDAQ:NVCR opened at $12.01 on Friday. The stock has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $12.73. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $20.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.71 and a current ratio of 2.90. The firm has a market capitalization of $1.37 billion, a PE ratio of -9.84 and a beta of 0.71.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The firm had revenue of $174.35 million for the quarter, compared to the consensus estimate of $174.40 million. During the same quarter last year, the company earned ($0.61) earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Insider Buying and Selling

In other NovoCure news, insider Uri Weinberg sold 6,412 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $85,343.72. Following the completion of the transaction, the insider directly owned 267,190 shares in the company, valued at $3,556,298.90. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christoph Brackmann sold 6,412 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the sale, the chief financial officer directly owned 182,842 shares of the company's stock, valued at approximately $2,433,627.02. This trade represents a 3.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 140,041 shares of company stock worth $1,860,116 in the last ninety days. Corporate insiders own 5.52% 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.

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