Novocure Ltd (NVCR) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Novocure Ltd (NASDAQ:NVCR) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,802 shares of the medical equipment provider’s stock after buying an additional 3,876 shares during the period. Russell Investments Group Ltd.’s holdings in Novocure were worth $492,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NVCR. Bank of Montreal Can increased its holdings in shares of Novocure by 1,919.7% during the 2nd quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 6,719 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Novocure by 23.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,000 shares of the medical equipment provider’s stock worth $1,679,000 after buying an additional 18,400 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Novocure by 20.5% during the 2nd quarter. Rhumbline Advisers now owns 65,094 shares of the medical equipment provider’s stock worth $1,126,000 after buying an additional 11,056 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Novocure by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 200,307 shares of the medical equipment provider’s stock worth $3,465,000 after buying an additional 26,784 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Novocure by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 1,092 shares during the last quarter. Institutional investors and hedge funds own 41.53% of the company’s stock.

Shares of Novocure Ltd (NVCR) opened at $20.35 on Friday. Novocure Ltd has a twelve month low of $6.00 and a twelve month high of $22.30. The stock has a market capitalization of $1,820.00 and a price-to-earnings ratio of -24.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30.

Novocure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The firm had revenue of $50.10 million during the quarter, compared to the consensus estimate of $43.45 million. During the same period in the prior year, the firm earned ($0.39) EPS. The firm’s quarterly revenue was up 130.9% compared to the same quarter last year. equities analysts anticipate that Novocure Ltd will post -0.65 earnings per share for the current year.

Several analysts recently issued reports on NVCR shares. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday. ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Mizuho reiterated a “buy” rating and issued a $25.00 price target on shares of Novocure in a report on Friday, December 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a report on Monday, November 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Novocure in a report on Friday, October 27th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.13.

In other Novocure news, insider Eilon D. Kirson sold 22,269 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.01, for a total value of $490,140.69. Following the completion of the transaction, the insider now directly owns 63,120 shares of the company’s stock, valued at approximately $1,389,271.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eilon D. Kirson sold 3,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $22.00, for a total transaction of $74,800.00. Following the completion of the transaction, the insider now directly owns 40,701 shares of the company’s stock, valued at $895,422. The disclosure for this sale can be found here. Over the last three months, insiders sold 226,281 shares of company stock valued at $4,657,207. 16.70% of the stock is currently owned by corporate insiders.

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About Novocure

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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