Goldman Sachs Group Inc. Has $601,000 Stake in NovoCure Limited (NVCR)

Goldman Sachs Group Inc. reduced its position in NovoCure Limited (NASDAQ:NVCR) by 20.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,252 shares of the medical equipment provider’s stock after selling 18,703 shares during the period. Goldman Sachs Group Inc. owned about 0.08% of NovoCure Limited worth $601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning increased its position in shares of NovoCure Limited by 32.1% in the first quarter. Creative Planning now owns 16,857 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 4,100 shares during the last quarter. Macquarie Group Ltd. increased its stake in NovoCure Limited by 18.4% in the fourth quarter. Macquarie Group Ltd. now owns 98,087 shares of the medical equipment provider’s stock valued at $770,000 after buying an additional 15,218 shares in the last quarter. River & Mercantile Asset Management LLP bought a new stake in NovoCure Limited during the first quarter valued at $937,000. Teachers Advisors LLC increased its stake in NovoCure Limited by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock valued at $751,000 after buying an additional 16,741 shares in the last quarter. Finally, American International Group Inc. increased its stake in NovoCure Limited by 7.1% in the first quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after buying an additional 2,065 shares in the last quarter. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NovoCure Limited (NVCR) traded down 2.08% during mid-day trading on Friday, reaching $18.85. 860,918 shares of the company’s stock traded hands. The firm’s 50-day moving average is $18.94 and its 200 day moving average is $12.66. The firm’s market cap is $1.68 billion. NovoCure Limited has a one year low of $5.95 and a one year high of $21.75.

NovoCure Limited (NASDAQ:NVCR) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $38.38 million for the quarter, compared to analysts’ expectations of $42.20 million. NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. Analysts predict that NovoCure Limited will post ($0.75) earnings per share for the current year.

Several analysts have weighed in on NVCR shares. J P Morgan Chase & Co reissued a “buy” rating and set a $14.00 target price on shares of NovoCure Limited in a research report on Monday, May 1st. Zacks Investment Research downgraded shares of NovoCure Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. BidaskClub raised shares of NovoCure Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Wells Fargo & Company raised shares of NovoCure Limited from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research report on Wednesday, May 24th. Finally, ValuEngine raised shares of NovoCure Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.29.

In related news, insider Yoram Palti sold 8,000 shares of NovoCure Limited stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $11.73, for a total value of $93,840.00. Following the transaction, the insider now directly owns 35,825 shares in the company, valued at approximately $420,227.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of NovoCure Limited stock in a transaction on Monday, June 26th. The shares were sold at an average price of $17.35, for a total transaction of $18,608,430.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,253,522 shares of company stock worth $38,336,772. Insiders own 16.70% of the company’s stock.

About NovoCure Limited

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.