NovoCure Limited $NVCR Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM significantly increased its holdings in NovoCure Limited by 154.0%, acquiring an additional 1,080,514 shares, bringing their total ownership to approximately 1.60% of the company worth $31.76 million.
• Several hedge funds have made recent investments in NovoCure, with Russell Investments boosting its position by 463.8% during the same quarter.
• NovoCure reported a quarterly EPS of ($0.36), surpassing estimates, alongside a revenue increase of 5.6%, totaling $158.80 million for the quarter.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 154.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,782,159 shares of the medical equipment provider's stock after acquiring an additional 1,080,514 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.60% of NovoCure worth $31,758,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NVCR. Ameriprise Financial Inc. grew its holdings in shares of NovoCure by 77.7% during the 4th quarter. Ameriprise Financial Inc. now owns 22,883 shares of the medical equipment provider's stock worth $682,000 after purchasing an additional 10,007 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of NovoCure by 20.7% in the 4th quarter. Deutsche Bank AG now owns 194,327 shares of the medical equipment provider's stock worth $5,791,000 after purchasing an additional 33,293 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NovoCure by 2.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock worth $2,160,000 after acquiring an additional 1,978 shares in the last quarter. Millennium Management LLC boosted its stake in NovoCure by 28.8% during the 4th quarter. Millennium Management LLC now owns 735,227 shares of the medical equipment provider's stock valued at $21,910,000 after purchasing an additional 164,416 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in NovoCure by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 35,115 shares of the medical equipment provider's stock valued at $1,046,000 after acquiring an additional 8,596 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Price Performance

NovoCure stock traded down $0.31 during midday trading on Friday, reaching $12.69. The company's stock had a trading volume of 2,167,416 shares, compared to its average volume of 1,373,810. The business has a 50-day moving average price of $12.70 and a 200-day moving average price of $16.05. NovoCure Limited has a 52 week low of $10.87 and a 52 week high of $34.13. The stock has a market cap of $1.42 billion, a PE ratio of -8.13 and a beta of 0.58. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

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

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Ashley Cordova acquired 81,550 shares of the firm's stock in a transaction on Friday, September 5th. The stock was bought at an average price of $12.22 per share, for a total transaction of $996,541.00. Following the completion of the purchase, the chief executive officer directly owned 437,569 shares of the company's stock, valued at approximately $5,347,093.18. The trade was a 22.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Christoph Brackmann bought 20,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $11.59 per share, with a total value of $231,800.00. Following the completion of the purchase, the chief financial officer owned 141,150 shares in the company, valued at approximately $1,635,928.50. This represents a 16.51% increase in their position. The disclosure for this purchase can be found here. 5.52% of the stock is owned by insiders.

NovoCure 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.