Insider Selling: NovoCure Limited (NASDAQ:NVCR) CEO Sells 97,973 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) CEO Asaf Danziger sold 97,973 shares of the stock in a transaction dated Tuesday, April 13th. The shares were sold at an average price of $196.34, for a total value of $19,236,018.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NVCR opened at $198.83 on Friday. The company has a market capitalization of $20.36 billion, a P/E ratio of 1,046.53 and a beta of 1.29. NovoCure Limited has a one year low of $55.40 and a one year high of $218.09. The stock has a 50-day moving average price of $138.78 and a 200 day moving average price of $147.25.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 25th. The medical equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). NovoCure had a return on equity of 7.40% and a net margin of 4.26%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $143.49 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s quarterly revenue was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that NovoCure Limited will post 0.23 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in NVCR. Truist Financial Corp bought a new position in NovoCure during the 3rd quarter worth approximately $208,000. Schonfeld Strategic Advisors LLC bought a new position in NovoCure during the 3rd quarter worth approximately $589,000. California State Teachers Retirement System lifted its holdings in NovoCure by 2.5% during the 3rd quarter. California State Teachers Retirement System now owns 175,358 shares of the medical equipment provider’s stock worth $19,519,000 after buying an additional 4,233 shares during the last quarter. Brinker Capital Investments LLC bought a new position in NovoCure during the 3rd quarter worth approximately $1,192,000. Finally, Van ECK Associates Corp lifted its holdings in NovoCure by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 28,714 shares of the medical equipment provider’s stock worth $3,196,000 after buying an additional 598 shares during the last quarter. 71.09% of the stock is currently owned by institutional investors.

NVCR has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on NovoCure from $135.00 to $215.00 and gave the company an “equal weight” rating in a research note on Tuesday. Northland Securities increased their target price on NovoCure from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Saturday, April 10th. Wedbush downgraded NovoCure from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $159.00 to $154.00 in a report on Wednesday. Finally, Piper Sandler increased their price target on NovoCure from $140.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, January 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. NovoCure has an average rating of “Hold” and a consensus target price of $173.25.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields delivery system for use as a monotherapy treatment for adult patients with glioblastoma.

See Also: What is the formula for the cash asset ratio?

Insider Buying and Selling by Quarter for NovoCure (NASDAQ:NVCR)

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.