Algert Global LLC Purchases 28,490 Shares of NovoCure Limited $NVCR

Key Points

• Algert Global LLC has increased its ownership in NovoCure by 41.1%, now holding 97,751 shares valued at approximately $1.74 million, according to its latest SEC filing.
• NovoCure's recent earnings report showed a loss of ($0.36) EPS, which was better than the expected ($0.39), and a revenue of $158.80 million, exceeding analyst expectations.
• Wall Street analysts have a consensus rating of "Moderate Buy" for NovoCure, with price targets ranging from $14.50 to $34.00.

Algert Global LLC raised its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 41.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,751 shares of the medical equipment provider's stock after buying an additional 28,490 shares during the period. Algert Global LLC owned about 0.09% of NovoCure worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Soleus Capital Management L.P. bought a new stake in shares of NovoCure in the 4th quarter valued at about $81,643,000. Northern Trust Corp grew its position in shares of NovoCure by 39.1% in the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock valued at $38,274,000 after buying an additional 360,841 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of NovoCure by 27.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock valued at $31,852,000 after buying an additional 229,689 shares during the last quarter. Millennium Management LLC grew its position in shares of NovoCure by 28.8% in the 4th quarter. Millennium Management LLC now owns 735,227 shares of the medical equipment provider's stock valued at $21,910,000 after buying an additional 164,416 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of NovoCure in the 1st quarter valued at about $12,363,000. Institutional investors own 84.61% of the company's stock.

NovoCure Price Performance

Shares of NVCR traded up $0.08 during trading hours on Wednesday, reaching $11.91. 980,729 shares of the company's stock traded hands, compared to its average volume of 1,849,811. The stock has a market cap of $1.33 billion, a PE ratio of -7.63 and a beta of 0.61. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The firm's 50 day simple moving average is $14.41 and its 200-day simple moving average is $17.06. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.03. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The business had revenue of $158.80 million for the quarter, compared to the consensus estimate of $153.87 million. During the same quarter last year, the business posted ($0.31) earnings per share. The company's revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Insider Activity at NovoCure

In other news, CFO Christoph Brackmann bought 20,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of $11.59 per share, with a total value of $231,800.00. Following the transaction, the chief financial officer owned 141,150 shares of the company's stock, valued at approximately $1,635,928.50. The trade was a 16.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $14.50 price target (down previously from $40.00) on shares of NovoCure in a research report on Friday, July 25th. Piper Sandler reissued an "overweight" rating and issued a $34.00 price objective on shares of NovoCure in a research note on Friday, June 27th. Finally, LADENBURG THALM/SH SH initiated coverage on NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.79.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.