$143.32 Million in Sales Expected for NovoCure Limited (NASDAQ:NVCR) This Quarter

Analysts expect NovoCure Limited (NASDAQ:NVCR) to announce sales of $143.32 million for the current quarter, according to Zacks. Six analysts have made estimates for NovoCure’s earnings, with the highest sales estimate coming in at $149.60 million and the lowest estimate coming in at $139.50 million. NovoCure posted sales of $132.66 million during the same quarter last year, which suggests a positive year over year growth rate of 8%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that NovoCure will report full-year sales of $562.02 million for the current financial year, with estimates ranging from $552.70 million to $576.30 million. For the next fiscal year, analysts anticipate that the company will post sales of $638.17 million, with estimates ranging from $630.90 million to $646.98 million. Zacks’ sales calculations are an average based on a survey of analysts that follow NovoCure.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 29th. The medical equipment provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.16). NovoCure had a negative net margin of 0.84% and a negative return on equity of 1.18%. The company had revenue of $133.52 million during the quarter, compared to the consensus estimate of $141.50 million.

A number of equities analysts have commented on NVCR shares. Northland Securities assumed coverage on NovoCure in a research note on Thursday, July 1st. They issued a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company cut their price target on NovoCure from $215.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (down previously from $240.00) on shares of NovoCure in a research note on Thursday, July 29th. Mizuho cut their price target on NovoCure from $229.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, July 30th. Finally, TheStreet lowered NovoCure from a “c” rating to a “d+” rating in a research note on Friday, August 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $186.14.

NovoCure stock traded down $0.43 on Friday, reaching $125.64. The company’s stock had a trading volume of 5,079 shares, compared to its average volume of 802,735. The company has a debt-to-equity ratio of 1.41, a quick ratio of 8.77 and a current ratio of 9.00. The company has a market cap of $13.02 billion, a price-to-earnings ratio of -2,520.90 and a beta of 1.10. The business’s fifty day moving average price is $154.95 and its 200 day moving average price is $170.52. NovoCure has a twelve month low of $97.21 and a twelve month high of $232.76.

In related news, insider Ely Benaim sold 651 shares of the stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $158.96, for a total transaction of $103,482.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Wilhelmus Cm Groenhuysen sold 181 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $138.23, for a total value of $25,019.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,457 shares of company stock valued at $4,645,591. 5.07% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCR. Dimensional Fund Advisors LP lifted its position in shares of NovoCure by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 164,314 shares of the medical equipment provider’s stock valued at $28,434,000 after buying an additional 6,883 shares during the last quarter. US Bancorp DE lifted its position in shares of NovoCure by 4.4% in the first quarter. US Bancorp DE now owns 2,878 shares of the medical equipment provider’s stock valued at $381,000 after buying an additional 122 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of NovoCure in the first quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NovoCure by 39.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,110 shares of the medical equipment provider’s stock valued at $2,658,000 after buying an additional 5,714 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in NovoCure by 67.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,728 shares of the medical equipment provider’s stock worth $1,286,000 after purchasing an additional 3,916 shares during the last quarter. 74.09% of the stock is owned by institutional investors.

About NovoCure

NovoCure Ltd. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.

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Earnings History and Estimates for NovoCure (NASDAQ:NVCR)

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