First Trust Advisors LP Invests $1.03 Million in NovoCure Limited $NVCR

Key Points

• First Trust Advisors LP acquired 94,293 NovoCure shares worth approximately $1.03 million, while institutional investors collectively owned 84.61% of the company.
• NovoCure reported quarterly revenue of $183.58 million, up 15.6% year over year, and an adjusted loss of $0.13 per share—better than the expected $0.33 loss.
• Analysts maintain a generally neutral view, with NovoCure receiving an average “Hold” rating and a consensus price target of $21.20 versus the stock’s reported $17.31 price.

First Trust Advisors LP bought a new stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 94,293 shares of the medical equipment provider's stock, valued at approximately $1,028,000. First Trust Advisors LP owned approximately 0.08% of NovoCure at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider's stock valued at $141,690,000 after acquiring an additional 502,368 shares in the last quarter. Eversept Partners LP bought a new position in NovoCure during the fourth quarter worth $1,564,000. Dimensional Fund Advisors LP grew its holdings in NovoCure by 27.6% in the first quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider's stock worth $10,462,000 after purchasing an additional 207,913 shares during the period. SG Americas Securities LLC increased its stake in NovoCure by 346.7% in the first quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider's stock valued at $13,576,000 after purchasing an additional 966,735 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of NovoCure by 65.6% during the fourth quarter. Legal & General Group Plc now owns 406,664 shares of the medical equipment provider's stock valued at $5,258,000 after purchasing an additional 161,095 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity at NovoCure

In other NovoCure news, Director Allyson J. Ocean sold 2,945 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 11,324 shares in the company, valued at approximately $178,579.48. This represents a 20.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy J. Scannell sold 2,945 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director directly owned 14,288 shares of the company's stock, valued at approximately $225,321.76. This represents a 17.09% decrease in their ownership of the stock. 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 51,943 shares of company stock valued at $893,171 over the last 90 days. Company insiders own 6.55% of the company's stock.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent research reports. HC Wainwright set a $32.00 price target on NovoCure in a report on Friday, July 24th. Zacks Research upgraded shares of NovoCure from a "strong sell" rating to a "hold" rating in a research note on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of NovoCure from $13.50 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. JPMorgan Chase & Co. initiated coverage on shares of NovoCure in a research report on Monday, July 13th. They set a "neutral" rating and a $17.00 target price for the company. Finally, Wedbush lifted their price target on NovoCure from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NovoCure has an average rating of "Hold" and an average price target of $21.20.

NovoCure Price Performance

NVCR stock opened at $17.31 on Tuesday. The firm has a 50 day simple moving average of $16.31 and a two-hundred day simple moving average of $14.30. The stock has a market cap of $2.02 billion, a PE ratio of -13.32 and a beta of 0.96. NovoCure Limited has a one year low of $9.82 and a one year high of $21.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.89 and a quick ratio of 2.70.

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

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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