Healthcare of Ontario Pension Plan Trust Fund Sells 201,000 Shares of NovoCure Limited $NVCR

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 726,400 shares of the medical equipment provider's stock after selling 201,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.63% of NovoCure worth $7,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in NovoCure by 104.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider's stock valued at $3,646,000 after buying an additional 144,024 shares during the last quarter. Tudor Investment Corp ET AL lifted its position in NovoCure by 140.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider's stock worth $7,830,000 after acquiring an additional 354,216 shares during the last quarter. SG Americas Securities LLC boosted its holdings in NovoCure by 905.6% during the fourth quarter. SG Americas Securities LLC now owns 278,806 shares of the medical equipment provider's stock valued at $3,605,000 after acquiring an additional 251,082 shares during the period. Vanguard Group Inc. boosted its holdings in NovoCure by 4.8% during the fourth 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 during the period. Finally, Eversept Partners LP acquired a new stake in shares of NovoCure in the fourth quarter valued at about $1,564,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. HC Wainwright set a $32.00 price objective on NovoCure in a research note on Friday. JPMorgan Chase & Co. initiated coverage on NovoCure in a report on Monday, July 13th. They issued a "neutral" rating and a $17.00 target price on the stock. Wells Fargo & Company lifted their price target on NovoCure from $13.50 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Zacks Research upgraded NovoCure from a "strong sell" rating to a "hold" rating in a report on Friday, July 24th. Finally, Wedbush increased their price objective on NovoCure from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.20.

NovoCure Stock Performance

NASDAQ:NVCR opened at $16.31 on Wednesday. The firm's 50-day moving average is $16.62 and its 200-day moving average is $14.18. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -12.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.70 and a current ratio of 2.89. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $21.45.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share 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 business had revenue of $183.58 million during the quarter, compared to analysts' expectations of $172.44 million. During the same quarter last year, the company earned ($0.36) earnings per share. The firm's revenue was up 15.6% on a year-over-year basis. Equities research analysts anticipate that NovoCure Limited will post -1.27 earnings per share for the current year.

Insider Transactions at NovoCure

In other NovoCure news, Director Jeryl L. Hilleman sold 2,945 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director owned 13,861 shares in the company, valued at approximately $218,587.97. This trade represents a 17.52% decrease in their position. The sale was disclosed in a legal filing 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 W Anthony Vernon sold 2,945 shares of NovoCure stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 197,657 shares in the company, valued at $3,117,050.89. The trade was a 1.47% 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. Over the last 90 days, insiders have sold 51,943 shares of company stock worth $893,171. 5.52% of the stock is currently owned by company insiders.

About NovoCure

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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