Fmr LLC Acquires 881,776 Shares of Novocure Ltd (NVCR)

Fmr LLC lifted its holdings in Novocure Ltd (NASDAQ:NVCR) by 12.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,862,121 shares of the medical equipment provider’s stock after purchasing an additional 881,776 shares during the quarter. Fmr LLC owned 8.46% of Novocure worth $246,084,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CWM LLC purchased a new position in shares of Novocure in the second quarter valued at $163,000. D.A. Davidson & CO. purchased a new position in shares of Novocure in the second quarter valued at $210,000. Sigma Planning Corp purchased a new position in shares of Novocure in the second quarter valued at $216,000. Fred Alger Management Inc. purchased a new position in shares of Novocure in the second quarter valued at $219,000. Finally, Regentatlantic Capital LLC purchased a new position in shares of Novocure in the second quarter valued at $221,000. 55.67% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Novocure from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Mizuho reissued a “buy” rating and issued a $58.00 target price on shares of Novocure in a report on Friday, October 19th. ValuEngine raised shares of Novocure from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Zacks Investment Research lowered shares of Novocure from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $40.00 target price (down from $50.00) on shares of Novocure in a report on Friday, September 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Novocure has a consensus rating of “Buy” and an average price target of $52.14.

In related news, CFO Wilhelmus Cm Groenhuysen sold 31,179 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $37.67, for a total value of $1,174,512.93. Following the completion of the sale, the chief financial officer now directly owns 72,671 shares in the company, valued at $2,737,516.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Yoram Palti sold 25,666 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $40.03, for a total value of $1,027,409.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,550 shares of company stock valued at $5,300,083. 15.30% of the stock is owned by corporate insiders.

Shares of NVCR opened at $33.14 on Thursday. The firm has a market capitalization of $2.95 billion, a P/E ratio of -47.34 and a beta of 3.30. Novocure Ltd has a 52-week low of $16.90 and a 52-week high of $53.70. The company has a quick ratio of 5.72, a current ratio of 6.17 and a debt-to-equity ratio of 1.30.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $64.76 million during the quarter, compared to the consensus estimate of $65.61 million. Novocure had a negative return on equity of 52.72% and a negative net margin of 25.37%. On average, sell-side analysts anticipate that Novocure Ltd will post -0.69 earnings per share for the current fiscal year.

Novocure Profile

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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