Regentatlantic Capital LLC Sells 2,069 Shares of Novocure Ltd (NVCR)

Regentatlantic Capital LLC trimmed its position in shares of Novocure Ltd (NASDAQ:NVCR) by 28.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,112 shares of the medical equipment provider’s stock after selling 2,069 shares during the quarter. Regentatlantic Capital LLC’s holdings in Novocure were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in Novocure during the third quarter worth about $1,323,000. Rhenman & Partners Asset Management AB grew its stake in Novocure by 36.3% during 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 buying an additional 145,000 shares during the last quarter. Strategic Financial Services Inc bought a new stake in Novocure during the first quarter worth about $207,000. Nisa Investment Advisors LLC grew its stake in Novocure by 29.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock worth $74,000 after buying an additional 500 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Novocure by 1.1% during the third quarter. Legal & General Group Plc now owns 28,027 shares of the medical equipment provider’s stock worth $1,469,000 after buying an additional 301 shares during the last quarter. 60.35% of the stock is currently owned by hedge funds and other institutional investors.

In other Novocure news, CEO Asaf Danziger sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $51.46, for a total value of $2,573,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William F. Doyle sold 29,966 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $45.21, for a total transaction of $1,354,762.86. The disclosure for this sale can be found here. Insiders have sold 363,778 shares of company stock worth $18,408,485 over the last three months. 5.60% of the stock is owned by insiders.

Several analysts have weighed in on the stock. ValuEngine cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised shares of Novocure from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. SunTrust Banks assumed coverage on shares of Novocure in a research note on Tuesday, March 19th. They set a “hold” rating and a $50.00 price objective on the stock. Zacks Investment Research cut shares of Novocure from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, Mizuho reaffirmed a “buy” rating and set a $63.00 price objective on shares of Novocure in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Novocure presently has a consensus rating of “Hold” and an average price target of $49.75.

NVCR opened at $49.30 on Monday. Novocure Ltd has a one year low of $26.02 and a one year high of $56.67. The company has a current ratio of 4.73, a quick ratio of 4.39 and a debt-to-equity ratio of 1.27. The company has a market cap of $4.71 billion, a PE ratio of -71.45 and a beta of 3.04.

Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The business had revenue of $73.31 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. Novocure’s revenue was up 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Novocure Ltd will post -0.17 EPS for the current fiscal year.

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Novocure 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.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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