California State Teachers Retirement System Has $1.55 Million Stock Holdings in NovoCure Limited $NVCR

California State Teachers Retirement System grew its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 43.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 142,561 shares of the medical equipment provider’s stock after acquiring an additional 43,257 shares during the quarter. California State Teachers Retirement System’s holdings in NovoCure were worth $1,554,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of NovoCure by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after purchasing an additional 502,368 shares during the period. Soleus Capital Management L.P. lifted its position in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares during the period. Morgan Stanley lifted its position in NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after purchasing an additional 4,153,741 shares during the period. Quantinno Capital Management LP grew its stake in NovoCure by 23.7% during the first quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after buying an additional 477,128 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in NovoCure by 38.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after buying an additional 634,925 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. assumed coverage on shares of NovoCure in a report on Monday, July 13th. They set a “neutral” rating and a $17.00 price target for the company. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Wall Street Zen raised NovoCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.20.

NovoCure Price Performance

NVCR stock opened at $17.38 on Friday. The company has a 50 day simple moving average of $16.36 and a 200 day simple moving average of $14.38. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -13.37 and a beta of 0.97. NovoCure Limited has a 1 year low of $9.82 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.89 and a quick ratio of 2.70.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.20. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that NovoCure Limited will post -1.21 EPS for the current fiscal year.

Insider Activity at NovoCure

In other news, Director Allyson J. Ocean sold 2,945 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 11,324 shares in the company, valued at approximately $178,579.48. This represents a 20.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy J. Scannell sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 14,288 shares in the company, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 51,943 shares of company stock valued at $893,171. 6.55% of the stock is owned by company insiders.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.