Russell Investments Group Ltd. Sells 325 Shares of Novocure Ltd (NASDAQ:NVCR)

Russell Investments Group Ltd. decreased its position in Novocure Ltd (NASDAQ:NVCR) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,747 shares of the medical equipment provider’s stock after selling 325 shares during the period. Russell Investments Group Ltd.’s holdings in Novocure were worth $2,297,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Prudential Financial Inc. boosted its holdings in Novocure by 918.4% in the second quarter. Prudential Financial Inc. now owns 75,263 shares of the medical equipment provider’s stock valued at $4,759,000 after acquiring an additional 67,873 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Novocure by 9.8% during the second quarter. Baillie Gifford & Co. now owns 8,829,449 shares of the medical equipment provider’s stock worth $558,287,000 after buying an additional 789,924 shares during the last quarter. Delek Group Ltd. boosted its holdings in Novocure by 6.5% during the second quarter. Delek Group Ltd. now owns 35,856 shares of the medical equipment provider’s stock worth $2,215,000 after buying an additional 2,188 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in Novocure by 3.9% during the second quarter. Granite Investment Partners LLC now owns 411,659 shares of the medical equipment provider’s stock worth $26,029,000 after buying an additional 15,501 shares during the last quarter. Finally, Nvwm LLC boosted its holdings in Novocure by 6.6% during the second quarter. Nvwm LLC now owns 14,128 shares of the medical equipment provider’s stock worth $893,000 after buying an additional 872 shares during the last quarter. Institutional investors and hedge funds own 66.37% of the company’s stock.

In related news, insider Pritesh Shah sold 11,175 shares of Novocure stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $60.30, for a total value of $673,852.50. Following the sale, the insider now owns 65,037 shares of the company’s stock, valued at approximately $3,921,731.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Wilhelmus Cm Groenhuysen sold 25,000 shares of Novocure stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.93, for a total value of $1,973,250.00. Following the completion of the sale, the chief financial officer now directly owns 112,179 shares in the company, valued at approximately $8,854,288.47. The disclosure for this sale can be found here. In the last three months, insiders sold 620,316 shares of company stock worth $48,775,505. 5.60% of the stock is owned by insiders.

A number of equities analysts have issued reports on NVCR shares. Zacks Investment Research cut Novocure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. TheStreet upgraded Novocure from a “d” rating to a “c-” rating in a report on Friday, July 26th. ValuEngine upgraded Novocure from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer raised their target price on Novocure from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Mizuho raised their target price on Novocure from $63.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Novocure currently has a consensus rating of “Buy” and an average price target of $69.50.

Shares of NASDAQ:NVCR traded down $2.43 during trading on Wednesday, hitting $79.38. 16,265 shares of the company’s stock traded hands, compared to its average volume of 940,198. Novocure Ltd has a 52 week low of $26.02 and a 52 week high of $98.70. The company has a current ratio of 5.03, a quick ratio of 4.68 and a debt-to-equity ratio of 1.01. The company has a market cap of $8.03 billion, a price-to-earnings ratio of -115.67 and a beta of 2.40. The company has a 50-day moving average price of $87.08 and a 200-day moving average price of $62.27.

Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Novocure had a negative return on equity of 31.80% and a negative net margin of 13.84%. The business had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $78.98 million. During the same quarter in the previous year, the business posted ($0.17) EPS. Novocure’s revenue for the quarter was up 41.0% on a year-over-year basis. On average, analysts predict that Novocure Ltd will post -0.22 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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