Brokerages Expect Novocure Ltd (NVCR) Will Post Quarterly Sales of $73.63 Million

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Analysts predict that Novocure Ltd (NASDAQ:NVCR) will post $73.63 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Novocure’s earnings. The lowest sales estimate is $72.20 million and the highest is $74.60 million. Novocure reported sales of $52.13 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 41.2%. The business is scheduled to issue its next earnings report before the market opens on Thursday, May 2nd.

According to Zacks, analysts expect that Novocure will report full-year sales of $327.13 million for the current fiscal year, with estimates ranging from $309.00 million to $342.20 million. For the next fiscal year, analysts expect that the company will report sales of $482.21 million, with estimates ranging from $447.00 million to $509.20 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Novocure.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 28th. The medical equipment provider reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.01). Novocure had a negative return on equity of 57.09% and a negative net margin of 25.62%.

NVCR has been the subject of several recent analyst reports. BidaskClub cut shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Mizuho reaffirmed a “buy” rating and set a $51.00 price objective on shares of Novocure in a research report on Thursday, December 6th. ValuEngine raised shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 10th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Novocure in a research report on Thursday, February 28th. Finally, SunTrust Banks initiated coverage on shares of Novocure in a research report on Tuesday, March 19th. They set a “hold” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.75.

In other news, COO Michael J. Ambrogi sold 34,375 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $47.39, for a total value of $1,629,031.25. Following the completion of the transaction, the chief operating officer now owns 207,549 shares of the company’s stock, valued at $9,835,747.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Asaf Danziger sold 16,268 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $55.89, for a total transaction of $909,218.52. Following the completion of the transaction, the chief executive officer now directly owns 250,025 shares of the company’s stock, valued at approximately $13,973,897.25. The disclosure for this sale can be found here. Insiders sold 1,161,062 shares of company stock valued at $53,955,481 in the last three months. Company insiders own 15.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Novocure in the third quarter valued at approximately $1,323,000. First Republic Investment Management Inc. acquired a new position in shares of Novocure in the third quarter valued at approximately $1,609,000. Rhenman & Partners Asset Management AB increased its stake in shares of Novocure by 36.3% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 545,000 shares of the medical equipment provider’s stock valued at $18,247,000 after buying an additional 145,000 shares during the period. Legal & General Group Plc increased its stake in shares of Novocure by 1.1% in the third quarter. Legal & General Group Plc now owns 28,027 shares of the medical equipment provider’s stock valued at $1,469,000 after buying an additional 301 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Novocure by 29.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock valued at $74,000 after buying an additional 500 shares during the period. 61.06% of the stock is owned by hedge funds and other institutional investors.

NVCR opened at $45.88 on Friday. Novocure has a twelve month low of $19.65 and a twelve month high of $56.67. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.98 and a quick ratio of 4.63. The stock has a market cap of $4.53 billion, a P/E ratio of -66.49 and a beta of 3.20.

Novocure Company Profile

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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