Novocure Ltd (NVCR) Holdings Lessened by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lessened its holdings in shares of Novocure Ltd (NASDAQ:NVCR) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 454,647 shares of the medical equipment provider’s stock after selling 90,353 shares during the period. Novocure comprises 2.6% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 9th largest holding. Rhenman & Partners Asset Management AB owned 0.48% of Novocure worth $21,900,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NVCR. Bank of New York Mellon Corp grew its position in shares of Novocure by 5.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 387,258 shares of the medical equipment provider’s stock worth $20,292,000 after purchasing an additional 21,335 shares in the last quarter. BlackRock Inc. grew its position in shares of Novocure by 2.8% during the 3rd quarter. BlackRock Inc. now owns 4,749,934 shares of the medical equipment provider’s stock worth $248,897,000 after purchasing an additional 129,388 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Novocure during the 3rd quarter worth approximately $1,323,000. Renaissance Technologies LLC grew its position in shares of Novocure by 22.9% during the 3rd quarter. Renaissance Technologies LLC now owns 839,195 shares of the medical equipment provider’s stock worth $43,974,000 after purchasing an additional 156,592 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in shares of Novocure during the 3rd quarter worth approximately $1,609,000. Hedge funds and other institutional investors own 61.06% of the company’s stock.

In other Novocure news, Chairman William F. Doyle sold 3,097 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $53.68, for a total value of $166,246.96. Following the sale, the chairman now owns 921,403 shares in the company, valued at $49,460,913.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Asaf Danziger sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $43.51, for a total transaction of $8,702,000.00. Following the completion of the sale, the chief executive officer now owns 271,164 shares in the company, valued at approximately $11,798,345.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,074 shares of company stock worth $48,193,711 in the last quarter. 15.30% of the stock is currently owned by company insiders.

NASDAQ NVCR opened at $46.56 on Thursday. The company has a current ratio of 4.98, a quick ratio of 4.63 and a debt-to-equity ratio of 1.33. The company has a market cap of $4.42 billion, a P/E ratio of -67.48 and a beta of 3.20. Novocure Ltd has a 1 year low of $20.60 and a 1 year high of $56.67.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 28th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.01). Novocure had a negative return on equity of 57.09% and a negative net margin of 25.62%. Equities analysts expect that Novocure Ltd will post -0.34 EPS for the current year.

NVCR has been the topic of a number of analyst reports. BidaskClub lowered shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 10th. Wells Fargo & Co restated a “hold” rating on shares of Novocure in a research report on Thursday, February 28th. Mizuho reiterated a “buy” rating and set a $63.00 price target on shares of Novocure in a research report on Thursday, March 7th. Finally, SunTrust Banks started coverage on shares of Novocure in a research report on Tuesday, March 19th. They set a “hold” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $49.75.

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Novocure Profile

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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