NovoCure Limited (NASDAQ:NVCR) CFO Christoph Brackmann Purchases 20,000 Shares

Key Points

• Christoph Brackmann, CFO of NovoCure, purchased 20,000 shares at an average price of $11.59, increasing his total holdings to 141,150 shares, worth approximately $1.64 million.
• NovoCure reported a quarterly loss of ($0.36) EPS, beating estimates, with revenue of $158.80 million, a 5.6% increase from the previous year.
• The stock has seen analyst rating changes, with an average target price of $28.79 and mixed ratings: one sell, three holds, and four buys.

NovoCure Limited (NASDAQ:NVCR - Get Free Report) CFO Christoph Brackmann bought 20,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $11.59 per share, for a total transaction of $231,800.00. Following the transaction, the chief financial officer owned 141,150 shares in the company, valued at approximately $1,635,928.50. The trade was a 16.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NovoCure Price Performance

Shares of NVCR traded down $0.25 on Friday, reaching $11.32. The stock had a trading volume of 2,061,317 shares, compared to its average volume of 1,173,865. The firm has a market capitalization of $1.27 billion, a PE ratio of -7.26 and a beta of 0.72. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $16.76 and a 200 day moving average of $18.86. NovoCure Limited has a twelve month low of $10.91 and a twelve month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, topping 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 company had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of NovoCure by 77.7% during the fourth quarter. Ameriprise Financial Inc. now owns 22,883 shares of the medical equipment provider's stock valued at $682,000 after acquiring an additional 10,007 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in NovoCure by 5.3% in the first quarter. Teacher Retirement System of Texas now owns 62,375 shares of the medical equipment provider's stock worth $1,112,000 after acquiring an additional 3,123 shares during the last quarter. LPL Financial LLC bought a new position in NovoCure in the fourth quarter worth about $830,000. SG Americas Securities LLC acquired a new position in shares of NovoCure during the first quarter worth approximately $527,000. Finally, Mackenzie Financial Corp acquired a new position in shares of NovoCure during the fourth quarter worth approximately $203,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVCR. LADENBURG THALM/SH SH began coverage on NovoCure in a research report on Tuesday, July 8th. They set a "buy" rating and a $30.00 target price on the stock. Piper Sandler reissued an "overweight" rating and issued a $34.00 price objective on shares of NovoCure in a report on Friday, June 27th. JPMorgan Chase & Co. dropped their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $14.50 target price (down from $40.00) on shares of NovoCure in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NovoCure currently has a consensus rating of "Hold" and an average 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.