Equities research analysts forecast that Novocure Ltd (NASDAQ:NVCR) will post sales of $95.79 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Novocure’s earnings, with the lowest sales estimate coming in at $94.00 million and the highest estimate coming in at $98.07 million. Novocure reported sales of $69.67 million in the same quarter last year, which indicates a positive year-over-year growth rate of 37.5%. The business is scheduled to issue its next earnings report on Thursday, February 27th.
On average, analysts expect that Novocure will report full year sales of $346.89 million for the current year, with estimates ranging from $343.00 million to $350.15 million. For the next financial year, analysts anticipate that the firm will post sales of $460.68 million, with estimates ranging from $435.90 million to $483.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Novocure.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.07. The business had revenue of $92.06 million for the quarter, compared to the consensus estimate of $87.12 million. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. Novocure’s quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share.
NVCR has been the subject of several research reports. Oppenheimer raised their target price on Novocure from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. ValuEngine cut Novocure from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub cut Novocure from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Zacks Investment Research cut Novocure from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $79.00 price objective on shares of Novocure in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.14.
In related news, Director Charles G. Phillips III sold 6,145 shares of Novocure stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $88.11, for a total value of $541,435.95. Following the completion of the sale, the director now directly owns 3,359 shares in the company, valued at $295,961.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman William F. Doyle sold 29,782 shares of Novocure stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.11, for a total value of $2,385,836.02. Following the completion of the sale, the chairman now owns 822,683 shares of the company’s stock, valued at $65,905,135.13. The disclosure for this sale can be found here. Insiders sold 550,969 shares of company stock valued at $48,388,736 over the last ninety days. 5.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in NVCR. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Novocure by 2.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,799 shares of the medical equipment provider’s stock worth $1,378,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Novocure by 13.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,573 shares of the medical equipment provider’s stock valued at $289,000 after purchasing an additional 546 shares during the period. Aperio Group LLC grew its position in shares of Novocure by 19.9% in the 2nd quarter. Aperio Group LLC now owns 10,157 shares of the medical equipment provider’s stock valued at $642,000 after purchasing an additional 1,684 shares during the period. Advisor Group Inc. grew its position in shares of Novocure by 1,329.6% in the 2nd quarter. Advisor Group Inc. now owns 28,121 shares of the medical equipment provider’s stock valued at $1,779,000 after purchasing an additional 26,154 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of Novocure in the 2nd quarter valued at approximately $241,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.
NVCR stock traded up $2.25 during midday trading on Thursday, hitting $80.09. The stock had a trading volume of 1,066,966 shares, compared to its average volume of 871,023. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -116.07 and a beta of 2.43. Novocure has a 52 week low of $28.83 and a 52 week high of $98.70. The stock has a 50-day simple moving average of $82.29 and a 200 day simple moving average of $75.88. The company has a current ratio of 5.06, a quick ratio of 4.76 and a debt-to-equity ratio of 0.84.
Novocure Company Profile
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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