First Trust Advisors LP trimmed its holdings in shares of Novocure Ltd (NASDAQ:NVCR) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,013 shares of the medical equipment provider’s stock after selling 8,533 shares during the period. First Trust Advisors LP’s holdings in Novocure were worth $4,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Financial Services Inc bought a new stake in shares of Novocure during the first quarter worth approximately $207,000. BlackRock Inc. raised its stake in shares of Novocure by 1.0% during the fourth quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after buying an additional 46,754 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Novocure during the fourth quarter worth approximately $461,000. ETRADE Capital Management LLC raised its stake in shares of Novocure by 11.0% during the fourth quarter. ETRADE Capital Management LLC now owns 18,365 shares of the medical equipment provider’s stock worth $615,000 after buying an additional 1,825 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Novocure by 17.6% during the fourth quarter. Van ECK Associates Corp now owns 22,359 shares of the medical equipment provider’s stock worth $749,000 after buying an additional 3,345 shares during the last quarter. 65.34% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on NVCR. ValuEngine downgraded shares of Novocure from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. BidaskClub raised shares of Novocure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novocure in a research note on Sunday, May 26th. Zacks Investment Research raised shares of Novocure from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Mizuho reaffirmed a “buy” rating and issued a $63.00 target price on shares of Novocure in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Novocure presently has an average rating of “Buy” and a consensus target price of $49.63.

In other news, COO Michael J. Ambrogi sold 34,375 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $47.39, for a total value of $1,629,031.25. Following the completion of the transaction, the chief operating officer now owns 207,549 shares in the company, valued at $9,835,747.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pritesh Shah sold 1,204 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.80, for a total transaction of $52,735.20. The disclosure for this sale can be found here. Insiders sold 306,898 shares of company stock valued at $15,205,170 in the last ninety days. Insiders own 5.60% of the company’s stock.

Shares of NASDAQ:NVCR opened at $54.33 on Wednesday. Novocure Ltd has a 52 week low of $26.02 and a 52 week high of $56.67. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -78.74 and a beta of 2.42.

Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The firm had revenue of $73.31 million during the quarter, compared to the consensus estimate of $72.85 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was up 40.6% on a year-over-year basis. On average, research analysts anticipate that Novocure Ltd will post -0.17 EPS for the current year.

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About Novocure

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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