NovoCure Limited $NVCR Position Lifted by Algert Global LLC

Key Points

• Algert Global LLC increased its NovoCure stake by 372.2% in Q3, buying 538,235 shares to hold 682,858 shares worth about $8.82 million (≈0.61% of the company).
• NovoCure beat EPS estimates with Q results of ($0.22) vs. the ($0.41) consensus and revenue of $174.35M (up 8.2% YoY), while the stock trades around $12.38 and analysts hold a consensus "Hold" rating with a $26.93 target.
• Company insiders sold 140,041 shares (≈$1.86M) in the last quarter, including Chairman William F. Doyle who reduced his holding by 17.96%.

Algert Global LLC grew its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 372.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,858 shares of the medical equipment provider's stock after acquiring an additional 538,235 shares during the period. Algert Global LLC owned about 0.61% of NovoCure worth $8,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. bought a new stake in NovoCure in the third quarter valued at about $41,000. Headlands Technologies LLC bought a new position in NovoCure during the 2nd quarter worth approximately $88,000. Acadian Asset Management LLC bought a new position in NovoCure during the 1st quarter worth approximately $87,000. State of Tennessee Department of Treasury acquired a new position in shares of NovoCure in the 2nd quarter worth approximately $129,000. Finally, AdvisorNet Financial Inc grew its position in shares of 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 in the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of NovoCure in a research report on Thursday, January 22nd. HC Wainwright lifted their price objective on shares of NovoCure from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Wedbush reiterated a "neutral" rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, January 15th. Finally, Evercore set a $20.00 target price on shares of NovoCure in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.93.

NovoCure Stock Up 2.7%

NASDAQ:NVCR opened at $12.38 on Tuesday. The firm has a market capitalization of $1.41 billion, a PE ratio of -10.15 and a beta of 0.71. The stock has a 50 day moving average of $12.65 and a 200-day moving average of $12.75. NovoCure Limited has a 52 week low of $9.82 and a 52 week high of $20.06. The company has a current ratio of 2.90, a quick ratio of 2.71 and a debt-to-equity ratio of 0.70.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (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 business 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 business posted ($0.61) EPS. The business's revenue was up 8.2% on a year-over-year basis. Analysts predict that NovoCure Limited will post -1.3 EPS for the current year.

Insider Activity at NovoCure

In other news, insider Uri Weinberg sold 6,412 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the transaction, the insider owned 267,190 shares in the company, valued at approximately $3,556,298.90. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William F. Doyle sold 71,887 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total transaction of $933,093.26. Following the completion of the sale, the chairman directly owned 328,397 shares in the company, valued at approximately $4,262,593.06. This trade represents a 17.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 140,041 shares of company stock valued at $1,860,116. Company 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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