Raymond James Financial Services Advisors Inc. lowered its position in Novocure Ltd (NASDAQ:NVCR) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,258 shares of the medical equipment provider’s stock after selling 1,733 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Novocure were worth $928,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Rhenman & Partners Asset Management AB grew its stake in Novocure by 36.3% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 545,000 shares of the medical equipment provider’s stock worth $18,247,000 after purchasing an additional 145,000 shares in the last quarter. Strategic Financial Services Inc purchased a new stake in Novocure during the first quarter worth $207,000. BlackRock Inc. lifted its holdings in Novocure by 1.0% during the fourth quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after buying an additional 46,754 shares during the period. LPL Financial LLC purchased a new stake in Novocure during the fourth quarter worth $461,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Novocure by 158.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,670 shares of the medical equipment provider’s stock worth $290,000 after buying an additional 5,309 shares during the period. 65.34% of the stock is currently owned by institutional investors.
NVCR has been the subject of a number of analyst reports. ValuEngine lowered Novocure from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Mizuho restated a “buy” rating and set a $63.00 target price on shares of Novocure in a report on Thursday, March 7th. BidaskClub lowered Novocure from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a report on Sunday, May 26th. Finally, SunTrust Banks started coverage on Novocure in a report on Tuesday, March 19th. They set a “hold” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.44.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the Zacks’ 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 return on equity of 47.23% and a negative net margin of 20.42%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. As a group, research analysts forecast that Novocure Ltd will post -0.17 EPS for the current fiscal year.
In related news, insider Pritesh Shah sold 1,204 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.80, for a total value of $52,735.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Leung sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $60.02, for a total value of $1,500,500.00. Following the completion of the transaction, the director now owns 94,504 shares of the company’s stock, valued at approximately $5,672,130.08. The disclosure for this sale can be found here. Insiders sold a total of 658,970 shares of company stock valued at $36,476,245 in the last 90 days. 5.60% of the stock is currently owned by company insiders.
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.
Recommended Story: Float
Receive News & Ratings for Novocure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novocure and related companies with MarketBeat.com's FREE daily email newsletter.