NovoCure Limited (NASDAQ:NVCR) Shares Purchased by C WorldWide Group Holding A S

C WorldWide Group Holding A S boosted its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 135.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 521,784 shares of the medical equipment provider’s stock after acquiring an additional 300,000 shares during the period. C WorldWide Group Holding A S owned about 0.49% of NovoCure worth $7,790,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in NovoCure by 6.8% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 959 shares during the period. Amalgamated Bank raised its position in shares of NovoCure by 4.7% in the third quarter. Amalgamated Bank now owns 23,847 shares of the medical equipment provider’s stock valued at $385,000 after buying an additional 1,072 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of NovoCure by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 1,347 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of NovoCure by 36.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,522 shares of the medical equipment provider’s stock valued at $89,000 after buying an additional 1,461 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of NovoCure by 6.3% in the third quarter. Principal Financial Group Inc. now owns 26,092 shares of the medical equipment provider’s stock valued at $421,000 after buying an additional 1,539 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the transaction, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Insiders sold a total of 7,921 shares of company stock valued at $127,161 over the last 90 days. 5.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NVCR shares. HC Wainwright increased their target price on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Wedbush reiterated a “neutral” rating and issued a $21.00 target price on shares of NovoCure in a research report on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on shares of NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reduced their target price on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.13.

NovoCure Price Performance

NVCR stock traded up $0.40 during mid-day trading on Friday, hitting $12.64. 762,109 shares of the company were exchanged, compared to its average volume of 1,083,416. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $14.42 and a 200-day simple moving average of $13.91. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $83.60.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.08. The company had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. NovoCure’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) earnings per share. As a group, equities research analysts predict that NovoCure Limited will post -1.78 earnings per share for the current year.

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.