Jeryl Hilleman Sells 2,945 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) Director Jeryl Hilleman sold 2,945 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director owned 13,861 shares in the company, valued at $218,587.97. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $17.99 on Friday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -11.76 and a beta of 0.93. The firm’s 50 day simple moving average is $14.29 and its 200 day simple moving average is $13.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $19.25.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) earnings per share. As a group, sell-side analysts forecast that NovoCure Limited will post -1.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wedbush reiterated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. Wells Fargo & Company lifted their price objective on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Evercore reiterated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, HC Wainwright lifted their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NovoCure currently has a consensus rating of “Hold” and an average target price of $27.29.

Hedge Funds Weigh In On NovoCure

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC bought a new position in shares of NovoCure during the 4th quarter valued at about $33,000. Kestra Advisory Services LLC bought a new stake in NovoCure in the 4th quarter valued at approximately $49,000. Larson Financial Group LLC lifted its stake in NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 3,562 shares in the last quarter. Headlands Technologies LLC bought a new stake in NovoCure in the 2nd quarter valued at approximately $88,000. Finally, Acadian Asset Management LLC bought a new stake in NovoCure in the 1st quarter valued at approximately $87,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.