Wall Street brokerages predict that NovoCure Limited (NASDAQ:NVCR) will post earnings per share of ($0.15) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for NovoCure Limited’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.14). NovoCure Limited reported earnings of ($0.26) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.3%. The business is expected to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that NovoCure Limited will report full year earnings of ($0.63) per share for the current fiscal year, with EPS estimates ranging from ($0.73) to ($0.45). For the next financial year, analysts expect that the business will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.68) to ($0.16). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover NovoCure Limited.
NovoCure Limited (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.07. The company had revenue of $50.10 million during the quarter, compared to the consensus estimate of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. NovoCure Limited’s revenue for the quarter was up 130.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.39) EPS.
A number of brokerages have issued reports on NVCR. Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price target (up from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. BidaskClub raised NovoCure Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Mizuho began coverage on NovoCure Limited in a report on Wednesday, September 6th. They set a “buy” rating and a $25.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of NovoCure Limited in a report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.00.
Shares of NovoCure Limited (NVCR) traded down $1.05 during midday trading on Friday, reaching $17.30. The company’s stock had a trading volume of 1,331,300 shares, compared to its average volume of 853,971. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. NovoCure Limited has a 12 month low of $6.00 and a 12 month high of $22.30.
In other news, CEO Asaf Danziger sold 6,919 shares of NovoCure Limited stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $22.00, for a total transaction of $152,218.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Yoram Palti sold 60,000 shares of NovoCure Limited stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.06, for a total value of $1,263,600.00. The disclosure for this sale can be found here. Insiders have sold 239,953 shares of company stock worth $5,217,363 in the last quarter. Insiders own 16.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NVCR. Bank of New York Mellon Corp increased its position in shares of NovoCure Limited by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock worth $1,406,000 after purchasing an additional 2,480 shares in the last quarter. American International Group Inc. increased its position in NovoCure Limited by 7.1% in the 1st quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after acquiring an additional 2,065 shares during the period. Teachers Advisors LLC increased its position in NovoCure Limited by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 98,799 shares of the medical equipment provider’s stock valued at $800,000 after acquiring an additional 3,125 shares during the period. Vanguard Group Inc. increased its position in NovoCure Limited by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock valued at $24,688,000 after acquiring an additional 325,512 shares during the period. Finally, Geode Capital Management LLC increased its position in NovoCure Limited by 14.6% in the 1st quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock valued at $1,041,000 after acquiring an additional 16,411 shares during the period. Institutional investors and hedge funds own 35.88% 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.
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