Novocure Ltd (NASDAQ:NVCR) COO Sells $1,841,700.00 in Stock

Novocure Ltd (NASDAQ:NVCR) COO Michael J. Ambrogi sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $52.62, for a total transaction of $1,841,700.00. Following the transaction, the chief operating officer now directly owns 203,174 shares of the company’s stock, valued at approximately $10,691,015.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Novocure stock traded up $2.38 during trading hours on Friday, hitting $63.23. The company’s stock had a trading volume of 3,290,774 shares, compared to its average volume of 671,785. Novocure Ltd has a 1-year low of $26.02 and a 1-year high of $63.85. The firm has a fifty day moving average price of $54.28. The firm has a market cap of $6.06 billion, a P/E ratio of -91.64 and a beta of 2.44. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27.

Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $73.31 million during the quarter, compared to analyst estimates of $72.85 million. Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Analysts anticipate that Novocure Ltd will post -0.17 EPS for the current year.

NVCR has been the subject of several research analyst reports. ValuEngine lowered shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $63.00 price target on shares of Novocure in a research report on Thursday, March 7th. BidaskClub lowered shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novocure in a research report on Sunday, May 26th. Finally, SunTrust Banks began coverage on shares of Novocure in a research report on Tuesday, March 19th. They issued a “hold” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Novocure has an average rating of “Buy” and a consensus price target of $52.44.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC bought a new stake in Novocure in the 1st quarter valued at about $300,000. Trexquant Investment LP lifted its position in Novocure by 355.1% in the 1st quarter. Trexquant Investment LP now owns 32,438 shares of the medical equipment provider’s stock valued at $1,563,000 after purchasing an additional 25,310 shares during the last quarter. Granite Investment Partners LLC lifted its position in Novocure by 19.1% in the 1st quarter. Granite Investment Partners LLC now owns 396,158 shares of the medical equipment provider’s stock valued at $19,083,000 after purchasing an additional 63,491 shares during the last quarter. Delek Group Ltd. bought a new stake in Novocure in the 1st quarter valued at about $1,614,000. Finally, Jennison Associates LLC bought a new stake in Novocure in the 1st quarter valued at about $679,000. 65.34% of the stock is owned by institutional investors and hedge funds.

Novocure Company Profile

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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