NovoCure Limited (NASDAQ:NVCR) Shares Sold by Brinker Capital Investments LLC

Brinker Capital Investments LLC trimmed its position in shares of NovoCure Limited (NASDAQ:NVCRGet Rating) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,405 shares of the medical equipment provider’s stock after selling 507 shares during the quarter. Brinker Capital Investments LLC’s holdings in NovoCure were worth $654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NVCR. Deep Track Capital LP increased its stake in shares of NovoCure by 81.8% during the first quarter. Deep Track Capital LP now owns 1,000,000 shares of the medical equipment provider’s stock worth $82,850,000 after acquiring an additional 450,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in NovoCure during the first quarter worth about $21,362,000. Vanguard Group Inc. boosted its holdings in NovoCure by 1.3% during the first quarter. Vanguard Group Inc. now owns 7,997,688 shares of the medical equipment provider’s stock worth $662,609,000 after buying an additional 104,375 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in NovoCure during the first quarter worth about $6,103,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in NovoCure by 16.4% during the first quarter. Frontier Capital Management Co. LLC now owns 504,354 shares of the medical equipment provider’s stock worth $41,786,000 after buying an additional 71,070 shares in the last quarter. 76.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NovoCure

In related news, Chairman William F. Doyle sold 837 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.66, for a total transaction of $58,305.42. Following the transaction, the chairman now owns 551,176 shares of the company’s stock, valued at $38,394,920.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ely Benaim sold 437 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.66, for a total transaction of $30,441.42. Following the transaction, the insider now owns 34,631 shares of the company’s stock, valued at $2,412,395.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William F. Doyle sold 837 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.66, for a total transaction of $58,305.42. Following the transaction, the chairman now directly owns 551,176 shares in the company, valued at approximately $38,394,920.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,916 shares of company stock valued at $2,381,400. Company insiders own 6.22% of the company’s stock.

NovoCure Stock Down 0.1 %

Shares of NASDAQ NVCR opened at $84.96 on Thursday. NovoCure Limited has a 12-month low of $56.39 and a 12-month high of $124.35. The company has a market capitalization of $8.90 billion, a PE ratio of -130.71 and a beta of 0.82. The company has a debt-to-equity ratio of 1.28, a current ratio of 8.08 and a quick ratio of 7.87. The firm’s 50-day moving average is $79.99 and its two-hundred day moving average is $77.11.

NovoCure (NASDAQ:NVCRGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.09). The business had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $135.13 million. NovoCure had a negative net margin of 12.52% and a negative return on equity of 16.04%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.14) EPS. Equities analysts anticipate that NovoCure Limited will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on NVCR shares. Evercore ISI downgraded shares of NovoCure from an “in-line” rating to an “underperform” rating and set a $55.00 price objective on the stock. in a report on Tuesday, July 5th. Piper Sandler decreased their price objective on shares of NovoCure from $100.00 to $90.00 in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.57.

About NovoCure

(Get Rating)

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, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

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