Novocure Ltd (NASDAQ:NVCR) Director Gabriel Leung Sells 5,000 Shares

Novocure Ltd (NASDAQ:NVCR) Director Gabriel Leung sold 5,000 shares of Novocure stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $45.95, for a total transaction of $229,750.00. Following the completion of the sale, the director now directly owns 65,000 shares in the company, valued at approximately $2,986,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Gabriel Leung also recently made the following trade(s):

  • On Monday, March 11th, Gabriel Leung sold 5,000 shares of Novocure stock. The shares were sold at an average price of $48.31, for a total transaction of $241,550.00.
  • On Friday, March 1st, Gabriel Leung sold 25,000 shares of Novocure stock. The shares were sold at an average price of $55.01, for a total transaction of $1,375,250.00.
  • On Monday, February 11th, Gabriel Leung sold 5,000 shares of Novocure stock. The shares were sold at an average price of $49.59, for a total transaction of $247,950.00.
  • On Friday, January 25th, Gabriel Leung sold 20,000 shares of Novocure stock. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00.
  • On Wednesday, January 16th, Gabriel Leung sold 20,000 shares of Novocure stock. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00.

Novocure stock opened at $48.89 on Friday. The company has a current ratio of 4.98, a quick ratio of 4.63 and a debt-to-equity ratio of 1.33. Novocure Ltd has a fifty-two week low of $26.02 and a fifty-two week high of $56.67.

Novocure (NASDAQ:NVCR) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. Novocure had a negative return on equity of 48.62% and a negative net margin of 20.42%. Novocure’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.23) earnings per share. Analysts anticipate that Novocure Ltd will post -0.36 earnings per share for the current fiscal year.

Several analysts recently issued reports on NVCR shares. Zacks Investment Research upgraded shares of Novocure from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th. BidaskClub lowered shares of Novocure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Wells Fargo & Co reiterated a “hold” rating on shares of Novocure in a research note on Thursday, February 28th. Finally, ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.75.

A number of institutional investors have recently bought and sold shares of NVCR. Bank of New York Mellon Corp boosted its stake in shares of Novocure by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 387,258 shares of the medical equipment provider’s stock valued at $20,292,000 after acquiring an additional 21,335 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Novocure by 2.8% during the third quarter. BlackRock Inc. now owns 4,749,934 shares of the medical equipment provider’s stock valued at $248,897,000 after acquiring an additional 129,388 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Novocure during the third quarter valued at $1,323,000. Renaissance Technologies LLC boosted its stake in shares of Novocure by 22.9% during the third quarter. Renaissance Technologies LLC now owns 839,195 shares of the medical equipment provider’s stock valued at $43,974,000 after acquiring an additional 156,592 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Novocure during the third quarter valued at $1,609,000. 60.30% of the stock is currently owned by institutional investors.

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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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