Alpine Group USVI LLC Makes New Investment in Novocure Ltd (NASDAQ:NVCR)

Alpine Group USVI LLC bought a new position in shares of Novocure Ltd (NASDAQ:NVCR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,789 shares of the medical equipment provider’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Chicago Equity Partners LLC boosted its stake in shares of Novocure by 14.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 50,925 shares of the medical equipment provider’s stock valued at $3,220,000 after purchasing an additional 6,435 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of Novocure in the 2nd quarter valued at $241,000. Baillie Gifford & Co. boosted its stake in shares of Novocure by 9.8% in the 2nd quarter. Baillie Gifford & Co. now owns 8,829,449 shares of the medical equipment provider’s stock valued at $558,287,000 after purchasing an additional 789,924 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Novocure by 13.8% in the 2nd quarter. Jennison Associates LLC now owns 16,032 shares of the medical equipment provider’s stock valued at $1,014,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Novocure by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,362 shares of the medical equipment provider’s stock valued at $782,000 after purchasing an additional 697 shares during the last quarter. 66.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Novocure stock traded up $1.62 during trading on Friday, reaching $77.11. 44,303 shares of the company traded hands, compared to its average volume of 689,559. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.03 and a quick ratio of 4.68. Novocure Ltd has a 1-year low of $26.02 and a 1-year high of $98.70. The company has a 50 day moving average price of $82.18 and a 200-day moving average price of $65.18. The firm has a market capitalization of $7.05 billion, a PE ratio of -113.39 and a beta of 2.37.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. Novocure had a negative net margin of 13.84% and a negative return on equity of 31.80%. The company had revenue of $86.70 million for the quarter, compared to the consensus estimate of $78.98 million. During the same quarter in the previous year, the company earned ($0.17) EPS. Novocure’s quarterly revenue was up 41.0% compared to the same quarter last year. Equities research analysts expect that Novocure Ltd will post -0.22 earnings per share for the current year.

In related news, CFO Wilhelmus Cm Groenhuysen sold 25,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.83, for a total transaction of $2,020,750.00. Following the transaction, the chief financial officer now owns 112,179 shares in the company, valued at approximately $9,067,428.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles G. Phillips III sold 22,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $91.14, for a total transaction of $2,005,080.00. Following the transaction, the director now owns 31,504 shares in the company, valued at approximately $2,871,274.56. The disclosure for this sale can be found here. Insiders have sold a total of 424,633 shares of company stock worth $36,768,772 in the last quarter. 5.60% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on NVCR shares. Zacks Investment Research lowered shares of Novocure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. ValuEngine lowered shares of Novocure from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Novocure from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $61.00 to $79.00 in a research note on Friday, July 26th. Wedbush lowered shares of Novocure from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $57.00 to $80.00 in a research note on Friday, July 26th. Finally, BidaskClub lowered shares of Novocure from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Novocure presently has an average rating of “Hold” and an average price target of $73.14.

Novocure 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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