Quadrant Capital Group LLC Purchases 383 Shares of NovoCure Limited (NASDAQ:NVCR)

Quadrant Capital Group LLC lifted its stake in shares of NovoCure Limited (NASDAQ:NVCR – Get Rating) by 175.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 601 shares of the medical equipment provider's stock after purchasing an additional 383 shares during the quarter. Quadrant Capital Group LLC's holdings in NovoCure were worth $50,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bellwether Advisors LLC raised its stake in shares of NovoCure by 1,108.1% during the 1st quarter. Bellwether Advisors LLC now owns 447 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 410 shares during the period. National Bank of Canada FI bought a new stake in shares of NovoCure during the 4th quarter valued at $36,000. Nauset Wealth Management. LLC purchased a new position in NovoCure during the first quarter worth about $50,000. Parallel Advisors LLC grew its position in NovoCure by 50.6% during the first quarter. Parallel Advisors LLC now owns 673 shares of the medical equipment provider's stock worth $57,000 after buying an additional 226 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in NovoCure during the first quarter worth about $58,000. 78.40% of the s tock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NVCR. HC Wainwright began coverage on NovoCure in a research report on Monday, May 16th. They set a "buy" rating and a $115.00 target price for the company. Evercore ISI cut NovoCure from an "in-line" rating to an "underperform" rating and set a $55.00 target price for the company. in a research report on Tuesday, July 5th. Piper Sandler reduced their target price on NovoCure from $100.00 to $90.00 in a research report on Thursday, July 28th. Finally, StockNews.com upgraded NovoCure from a "sell" rating to a "hold" rating in a research report on Monday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.57.

NovoCure Price Performance

NVCR opened at $77.64 on Tuesday. The stock has a 50-day moving average price of $71.69 and a 200-day moving average price of $74.76. NovoCure Limited has a 12-month low of $56.39 and a 12-month high of $152.10. The company has a current ratio of 8.08, a quick ratio of 7.87 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $8.13 billion, a P/E ratio of -119.45 and a beta of 0.87.

NovoCure (NASDAQ:NVCR – Get Rating) last issued its earnings results on Thursday, July 28th. The medical equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.09). The company had revenue of $140.90 million for the quarter, compared to analysts' expectations of $135.13 million. NovoCure had a negative net margin of 12.52% and a negative return on equity of 16.04%. The company's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Equities analysts predict that NovoCure Limited will post -0.89 earnings per share for the current fiscal year.

Insider Activity at NovoCure

In related news, Director Jeryl L. Hilleman sold 407 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $69.61, for a total transaction of $28,331.27. Following the completion of the sale, the director now directly owns 2,537 shares in the company, valued at approximately $176,600.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman William F. Doyle sold 837 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $69.66, for a total transaction of $58,305.42. Following the completion of the sale, the chairman now directly owns 551,176 shares in the company, valued at approximately $38,394,920.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeryl L. Hilleman sold 407 shares of the company's stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $69.61, for a total value of $28,331.27. Following the transaction, the director now directly owns 2,537 shares of the company's stock, valued at approximately $176,600.57. The disclosure for this sale can be found here. Insiders sold 1,681 shares of company stock worth $117,078 in the last ninety days. 4.57% of the stock is owned by company insiders.

NovoCure Profile

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NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.