$83.02 Million in Sales Expected for Novocure Ltd (NASDAQ:NVCR) This Quarter

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Brokerages expect Novocure Ltd (NASDAQ:NVCR) to post $83.02 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Novocure’s earnings. The highest sales estimate is $83.80 million and the lowest is $82.46 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 scheduled to announce its next earnings results 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 year, analysts expect 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 firms that that provide coverage for Novocure.

Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The firm had revenue of $73.31 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same quarter last year, the business earned ($0.23) earnings per share. The business’s revenue was up 40.6% on a year-over-year basis.

Several research firms recently weighed in on NVCR. ValuEngine cut shares of Novocure from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. BidaskClub upgraded Novocure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a research note on Sunday, May 26th. Zacks Investment Research upgraded Novocure from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Mizuho restated a “buy” rating and issued a $63.00 target price on shares of Novocure in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.63.

In related news, CEO Asaf Danziger sold 30,436 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total transaction of $1,685,850.04. Following the sale, the chief executive officer now owns 275,146 shares of the company’s stock, valued at $15,240,336.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles G. Phillips III sold 95,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $52.17, for a total value of $4,961,367.00. Following the sale, the director now directly owns 59,504 shares in the company, valued at approximately $3,104,323.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 343,464 shares of company stock valued at $17,228,476. Insiders own 5.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. PRW Wealth Management LLC acquired a new stake in Novocure during the 4th quarter valued at $36,000. NumerixS Investment Technologies Inc acquired a new stake in Novocure during the 4th quarter valued at $59,000. QS Investors LLC acquired a new stake in Novocure during the 4th quarter valued at $70,000. Oppenheimer Asset Management Inc. acquired a new stake in Novocure during the 4th quarter valued at $142,000. Finally, Strategic Financial Services Inc acquired a new stake in Novocure during the 1st quarter valued at $207,000. 65.34% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:NVCR traded up $0.25 during trading hours on Wednesday, hitting $60.05. The company had a trading volume of 23,049 shares, compared to its average volume of 455,122. The stock has a market cap of $5.73 billion, a P/E ratio of -86.90 and a beta of 2.44. Novocure has a 52 week low of $26.02 and a 52 week high of $60.00. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27.

About Novocure

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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