Dimensional Fund Advisors LP Buys 207,913 Shares of NovoCure Limited $NVCR

Key Points

• Dimensional Fund Advisors increased its NovoCure stake by 27.6%, purchasing 207,913 shares to own 960,056 shares worth approximately $10.5 million. Institutional investors collectively hold 84.61% of the company.
• NovoCure reported a quarterly loss of $0.13 per share, beating estimates for a $0.33 loss, while revenue rose 15.6% year over year to $183.6 million—above expectations.
• Analysts maintain a generally neutral outlook, with the stock carrying a consensus “Hold” rating and an average price target of $21.20 versus its $16.39 opening price.

Dimensional Fund Advisors LP grew its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 27.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 960,056 shares of the medical equipment provider's stock after purchasing an additional 207,913 shares during the quarter. Dimensional Fund Advisors LP owned about 0.83% of NovoCure worth $10,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of NovoCure by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider's stock worth $141,690,000 after purchasing an additional 502,368 shares during the last quarter. Eversept Partners LP acquired a new stake in NovoCure in the 4th quarter valued at about $1,564,000. SG Americas Securities LLC grew its holdings in NovoCure by 346.7% during the first quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider's stock worth $13,576,000 after purchasing an additional 966,735 shares during the period. Legal & General Group Plc grew its holdings in NovoCure by 65.6% during the fourth quarter. Legal & General Group Plc now owns 406,664 shares of the medical equipment provider's stock worth $5,258,000 after purchasing an additional 161,095 shares during the period. Finally, Fox Run Management L.L.C. grew its holdings in NovoCure by 112.3% during the fourth quarter. Fox Run Management L.L.C. now owns 99,405 shares of the medical equipment provider's stock worth $1,285,000 after purchasing an additional 52,587 shares during the period. Institutional investors own 84.61% of the company's stock.

NovoCure Stock Performance

NASDAQ NVCR opened at $16.39 on Monday. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $21.45. The firm has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $14.27. The company has a market capitalization of $1.91 billion, a P/E ratio of -12.61 and a beta of 0.96. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.20. The company had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) earnings per share. Analysts anticipate that NovoCure Limited will post -1.21 earnings per share for the current year.

Insider Activity at NovoCure

In other news, CEO Frank X. Leonard sold 34,273 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.93, for a total value of $614,514.89. Following the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeryl L. Hilleman sold 2,945 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director directly owned 13,861 shares of the company's stock, valued at approximately $218,587.97. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock worth $893,171 in the last 90 days. Corporate insiders own 6.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVCR shares. Zacks Research upgraded NovoCure from a "strong sell" rating to a "hold" rating in a research note on Friday, July 24th. Wedbush lifted their target price on NovoCure from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. started coverage on NovoCure in a research note on Monday, July 13th. They issued a "neutral" rating and a $17.00 price target on the stock. Evercore reaffirmed an "outperform" rating on shares of NovoCure in a report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of NovoCure from $13.50 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.20.

NovoCure 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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