NovoCure (NVCR) Expected to Post Quarterly Sales of $56.79 Million

Wall Street brokerages expect NovoCure (NASDAQ:NVCR) to post $56.79 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for NovoCure’s earnings. The highest sales estimate is $59.57 million and the lowest is $54.00 million. NovoCure posted sales of $34.88 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 62.8%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that NovoCure will report full-year sales of $251.28 million for the current year, with estimates ranging from $232.38 million to $270.77 million. For the next financial year, analysts expect that the company will post sales of $341.57 million per share, with estimates ranging from $296.60 million to $372.12 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover NovoCure.

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NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $53.66 million for the quarter, compared to the consensus estimate of $53.17 million. NovoCure had a negative net margin of 34.83% and a negative return on equity of 51.74%. The business’s revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) EPS.



A number of equities research analysts have recently issued reports on NVCR shares. BidaskClub downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Zacks Investment Research raised shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank reduced their price target on shares of NovoCure from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, Mizuho reissued a “buy” rating and issued a $32.00 price target (up from $28.00) on shares of NovoCure in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.33.

In related news, CFO Wilhelmus Cm Groenhuysen sold 13,351 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.83, for a total transaction of $264,750.33. Following the sale, the chief financial officer now directly owns 252,412 shares of the company’s stock, valued at approximately $5,005,329.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Asaf Danziger sold 20,848 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $22.10, for a total transaction of $460,740.80. Following the sale, the chief executive officer now directly owns 387,820 shares in the company, valued at $8,570,822. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 248,924 shares of company stock worth $5,471,491. 16.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NVCR. Bank of New York Mellon Corp grew its holdings in NovoCure by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 203,031 shares of the medical equipment provider’s stock worth $4,030,000 after acquiring an additional 2,724 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in NovoCure by 18.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 24,802 shares of the medical equipment provider’s stock worth $492,000 after acquiring an additional 3,876 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in NovoCure during the 3rd quarter worth approximately $1,163,000. American International Group Inc. grew its holdings in NovoCure by 8.1% during the 3rd quarter. American International Group Inc. now owns 38,722 shares of the medical equipment provider’s stock worth $769,000 after acquiring an additional 2,896 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in NovoCure by 80.6% during the 3rd quarter. Legal & General Group Plc now owns 25,045 shares of the medical equipment provider’s stock worth $502,000 after acquiring an additional 11,179 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NovoCure stock traded down $0.35 on Tuesday, reaching $24.65. The company had a trading volume of 1,258,673 shares, compared to its average volume of 1,038,953. The company has a market capitalization of $2,228.34, a price-to-earnings ratio of -35.21 and a beta of 3.16. NovoCure has a 52-week low of $10.50 and a 52-week high of $25.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.44 and a current ratio of 4.88.

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About NovoCure

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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