Bank of Montreal Can Purchases 32,148 Shares of Novocure Ltd (NASDAQ:NVCR)

Bank of Montreal Can boosted its position in Novocure Ltd (NASDAQ:NVCR) by 225.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,397 shares of the medical equipment provider’s stock after acquiring an additional 32,148 shares during the period. Bank of Montreal Can’s holdings in Novocure were worth $2,934,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NVCR. Baillie Gifford & Co. boosted its holdings in Novocure by 9.8% in the second quarter. Baillie Gifford & Co. now owns 8,829,449 shares of the medical equipment provider’s stock worth $558,287,000 after acquiring an additional 789,924 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Novocure in the second quarter worth approximately $9,648,000. Wells Fargo & Company MN boosted its holdings in Novocure by 13.4% in the second quarter. Wells Fargo & Company MN now owns 1,190,595 shares of the medical equipment provider’s stock worth $75,281,000 after acquiring an additional 140,939 shares in the last quarter. C WorldWide Group Holding A S boosted its holdings in Novocure by 92.5% in the second quarter. C WorldWide Group Holding A S now owns 208,059 shares of the medical equipment provider’s stock worth $13,156,000 after acquiring an additional 100,000 shares in the last quarter. Finally, 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 worth $4,759,000 after acquiring an additional 67,873 shares in the last quarter. Institutional investors and hedge funds own 66.50% of the company’s stock.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Novocure from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $61.00 to $79.00 in a report on Friday, July 26th. Wedbush lowered Novocure from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $80.00 in a report on Friday, July 26th. TheStreet upgraded Novocure from a “d” rating to a “c-” rating in a report on Friday, July 26th. BidaskClub lowered Novocure from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 5th. Finally, ValuEngine upgraded Novocure from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.00.

In other news, CEO Asaf Danziger sold 190,338 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $59.37, for a total value of $11,300,367.06. Following the completion of the sale, the chief executive officer now directly owns 448,649 shares of the company’s stock, valued at $26,636,291.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gabriel Leung sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $64.83, for a total value of $324,150.00. Following the completion of the sale, the director now directly owns 74,504 shares of the company’s stock, valued at $4,830,094.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 909,022 shares of company stock valued at $65,015,952. Company insiders own 5.60% of the company’s stock.

Shares of Novocure stock opened at $80.25 on Friday. The company has a market cap of $7.38 billion, a PE ratio of -116.30 and a beta of 2.41. Novocure Ltd has a 52 week low of $26.02 and a 52 week high of $98.70. The business has a 50 day moving average price of $86.81 and a 200-day moving average price of $61.61. The company has a quick ratio of 4.68, a current ratio of 5.03 and a debt-to-equity ratio of 1.01.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. The firm had revenue of $86.70 million during the quarter, compared to the consensus estimate of $78.98 million. Novocure had a negative return on equity of 31.80% and a negative net margin of 13.84%. The company’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, research analysts anticipate that Novocure Ltd will post -0.22 EPS for the current 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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