Eversept Partners LP Purchases Shares of 120,978 NovoCure Limited $NVCR

Eversept Partners LP purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, Holdings Channel reports. The fund purchased 120,978 shares of the medical equipment provider’s stock, valued at approximately $1,564,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in NovoCure by 4.8% in the 4th 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 in the last quarter. Soleus Capital Management L.P. boosted its position in NovoCure by 25.0% in the 2nd 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 in the last quarter. Morgan Stanley raised its holdings in NovoCure by 453.4% in the 4th 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. Balyasny Asset Management L.P. raised its holdings in NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after purchasing an additional 634,925 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NovoCure by 29.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,387,754 shares of the medical equipment provider’s stock worth $17,944,000 after purchasing an additional 314,900 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NVCR shares. Wells Fargo & Company increased their target price on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Evercore reissued an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Finally, HC Wainwright boosted their target price on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.29.

NovoCure Price Performance

NovoCure stock opened at $17.85 on Thursday. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $18.92. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -11.67 and a beta of 0.93. The company has a fifty day simple moving average of $15.46 and a 200-day simple moving average of $13.53. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.NovoCure’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS. On average, equities analysts anticipate that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy J. Scannell sold 2,945 shares of NovoCure stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 14,288 shares in the company, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Allyson J. Ocean sold 2,945 shares of NovoCure stock in a transaction that occurred 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 transaction, the director owned 11,324 shares in the company, valued at approximately $178,579.48. The trade was a 20.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 51,943 shares of company stock worth $893,171 in the last 90 days. Corporate insiders own 5.52% of the company’s stock.

About NovoCure

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.