Analysts Anticipate Novocure Ltd (NASDAQ:NVCR) Will Post Quarterly Sales of $95.79 Million

Wall Street brokerages forecast that Novocure Ltd (NASDAQ:NVCR) will report sales of $95.79 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Novocure’s earnings, with estimates ranging from $94.00 million to $98.07 million. Novocure posted sales of $69.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 37.5%. The firm is expected to issue its next quarterly earnings report on Thursday, February 27th.

According to Zacks, 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 fiscal year, analysts forecast that the business will report sales of $460.68 million, with estimates ranging from $435.90 million to $483.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Novocure.

Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.07. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. The company had revenue of $92.06 million for the quarter, compared to analyst estimates of $87.12 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 42.2% compared to the same quarter last year.

NVCR has been the topic of several research analyst reports. Oppenheimer raised their price objective on shares of Novocure from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research downgraded shares of Novocure from a “buy” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reissued a “hold” rating and issued a $79.00 price target on shares of Novocure in a report on Monday, November 4th. ValuEngine downgraded shares of Novocure from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub downgraded shares of Novocure from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Novocure has a consensus rating of “Hold” and an average target price of $80.14.

Shares of Novocure stock traded up $2.25 during midday trading on Thursday, hitting $80.09. The company had a trading volume of 1,066,966 shares, compared to its average volume of 871,023. The business’s 50 day simple moving average is $82.29 and its two-hundred day simple moving average is $75.88. The stock has a market cap of $7.70 billion, a PE ratio of -116.07 and a beta of 2.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.06 and a quick ratio of 4.76. Novocure has a 1-year low of $28.83 and a 1-year high of $98.70.

In other Novocure news, CEO Asaf Danziger sold 103,000 shares of Novocure stock in a transaction on Monday, November 25th. The shares were sold at an average price of $95.00, for a total transaction of $9,785,000.00. Following the sale, the chief executive officer now owns 237,601 shares in the company, valued at $22,572,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabriel Leung sold 5,000 shares of Novocure stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $72.28, for a total transaction of $361,400.00. Following the sale, the director now owns 74,504 shares in the company, valued at approximately $5,385,149.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,969 shares of company stock valued at $48,388,736. Insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Novocure by 9.8% during the second quarter. Baillie Gifford & Co. now owns 8,829,449 shares of the medical equipment provider’s stock worth $558,287,000 after buying an additional 789,924 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Novocure by 15.6% during the second quarter. BlackRock Inc. now owns 5,554,632 shares of the medical equipment provider’s stock valued at $351,218,000 after acquiring an additional 750,374 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Novocure by 21.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,357,482 shares of the medical equipment provider’s stock valued at $149,064,000 after acquiring an additional 421,235 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Novocure by 10.7% during the second quarter. Renaissance Technologies LLC now owns 2,055,470 shares of the medical equipment provider’s stock valued at $129,967,000 after acquiring an additional 199,200 shares during the period. Finally, State Street Corp lifted its holdings in shares of Novocure by 2.8% during the third quarter. State Street Corp now owns 1,615,508 shares of the medical equipment provider’s stock valued at $120,808,000 after acquiring an additional 44,737 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.

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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Earnings History and Estimates for Novocure (NASDAQ:NVCR)

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