Christoph Brackmann Acquires 20,000 Shares of NovoCure Limited (NASDAQ:NVCR) Stock

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 purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of $11.59 per share, for a total transaction of $231,800.00. Following the acquisition, the chief financial officer owned 141,150 shares of the company's stock, valued at approximately $1,635,928.50. This trade represents a 16.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NovoCure Stock Down 2.2%

Shares of NVCR stock traded down $0.25 during trading hours on Friday, hitting $11.32. 2,061,507 shares of the company's stock traded hands, compared to its average volume of 1,701,905. The stock's fifty day simple moving average is $16.61 and its two-hundred day simple moving average is $18.70. NovoCure Limited has a 12-month low of $10.91 and a 12-month high of $34.13. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -7.26 and a beta of 0.61. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.28.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating 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 net margin of 27.13% and a negative return on equity of 47.74%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) earnings per share. On average, analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Institutional Investors Weigh In On NovoCure

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in NovoCure by 77.7% in 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 during the period. Teacher Retirement System of Texas grew its position in NovoCure by 5.3% in the 1st quarter. Teacher Retirement System of Texas now owns 62,375 shares of the medical equipment provider's stock worth $1,112,000 after purchasing an additional 3,123 shares during the period. LPL Financial LLC bought a new stake in NovoCure in the 4th quarter worth approximately $830,000. SG Americas Securities LLC bought a new stake in NovoCure in the 1st quarter worth approximately $527,000. Finally, Mackenzie Financial Corp bought a new stake in NovoCure in the 4th quarter worth approximately $203,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVCR shares. JPMorgan Chase & Co. decreased their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. LADENBURG THALM/SH SH started coverage on NovoCure in a research note on Tuesday, July 8th. They set a "buy" rating and a $30.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and set a $34.00 target price on shares of NovoCure in a report on Friday, June 27th. Wells Fargo & Company reiterated 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. Finally, Wedbush lowered their price objective on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NovoCure presently has an average rating of "Hold" and a consensus price target of $28.79.

About NovoCure

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.