Wall Street analysts forecast that Novocure Ltd (NASDAQ:NVCR) will post sales of $83.02 million for the current quarter, Zacks reports. Three analysts have made estimates for Novocure’s earnings, with the lowest sales estimate coming in at $82.46 million and the highest estimate coming in at $83.80 million. Novocure reported sales of $61.51 million in the same quarter last year, which would suggest a positive year over year growth rate of 35%. The firm is expected to issue its next earnings report on Thursday, July 25th.
On average, analysts expect that Novocure will report full-year sales of $341.14 million for the current year, with estimates ranging from $326.00 million to $356.74 million. For the next financial year, analysts forecast that the firm will report sales of $486.85 million, with estimates ranging from $469.41 million to $503.90 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Novocure.
Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The company had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. Novocure’s revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) earnings per share.
Shares of NASDAQ NVCR traded up $3.60 during mid-day trading on Monday, reaching $52.91. 724,949 shares of the company’s stock were exchanged, compared to its average volume of 495,825. The firm has a market cap of $5.07 billion, a P/E ratio of -76.68 and a beta of 3.04. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.73 and a quick ratio of 4.39. Novocure has a twelve month low of $26.02 and a twelve month high of $56.67.
In related news, Director Gabriel Leung sold 5,000 shares of Novocure stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $49.79, for a total value of $248,950.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Todd Christopher Longsworth sold 2,368 shares of Novocure stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $53.68, for a total value of $127,114.24. Following the completion of the sale, the general counsel now directly owns 39,203 shares in the company, valued at approximately $2,104,417.04. The disclosure for this sale can be found here. In the last three months, insiders sold 318,778 shares of company stock worth $16,084,435. 5.60% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in Novocure in the third quarter valued at approximately $1,323,000. Rhenman & Partners Asset Management AB grew its stake in 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 purchasing an additional 145,000 shares in the last quarter. Strategic Financial Services Inc bought a new position in Novocure in the first quarter valued at approximately $207,000. Nisa Investment Advisors LLC grew its stake in 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 purchasing an additional 500 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in 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 purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 65.36% 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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