Insider Selling: Novocure Ltd (NASDAQ:NVCR) Director Sells 5,000 Shares of Stock

Novocure Ltd (NASDAQ:NVCR) Director Gabriel Leung sold 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $55.05, for a total transaction of $275,250.00. Following the completion of the sale, the director now directly owns 74,504 shares in the company, valued at $4,101,445.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Gabriel Leung also recently made the following trade(s):

  • On Friday, May 10th, Gabriel Leung sold 5,000 shares of Novocure stock. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00.
  • On Wednesday, April 10th, Gabriel Leung sold 5,000 shares of Novocure stock. The shares were sold at an average price of $45.95, for a total transaction of $229,750.00.

NASDAQ NVCR opened at $57.06 on Friday. 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 firm has a market capitalization of $5.34 billion, a P/E ratio of -82.70 and a beta of 2.44. Novocure Ltd has a 12 month low of $26.02 and a 12 month high of $57.82.

Novocure (NASDAQ:NVCR) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The firm had revenue of $73.31 million for the quarter, compared to the consensus estimate of $72.85 million. Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the firm posted ($0.23) EPS. On average, research analysts forecast that Novocure Ltd will post -0.17 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of NVCR. Strategic Financial Services Inc purchased a new position in Novocure during the 1st quarter worth $207,000. BlackRock Inc. grew its position in Novocure by 1.0% during the 4th quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after purchasing an additional 46,754 shares during the last quarter. LPL Financial LLC purchased a new position in Novocure during the 4th quarter worth $461,000. ETRADE Capital Management LLC grew its position in Novocure by 11.0% during the 4th quarter. ETRADE Capital Management LLC now owns 18,365 shares of the medical equipment provider’s stock worth $615,000 after purchasing an additional 1,825 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Novocure by 17.6% during the 4th quarter. Van ECK Associates Corp now owns 22,359 shares of the medical equipment provider’s stock worth $749,000 after purchasing an additional 3,345 shares during the last quarter. 65.34% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on NVCR shares. BidaskClub raised shares of Novocure from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine downgraded shares of Novocure from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Co reissued a “hold” rating on shares of Novocure in a research report on Thursday, February 28th. Mizuho reissued a “buy” rating and issued a $63.00 price objective on shares of Novocure in a research report on Thursday, March 7th. Finally, SunTrust Banks started coverage on shares of Novocure in a research report on Tuesday, March 19th. They issued a “hold” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $49.63.

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About Novocure

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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