$134.88 Million in Sales Expected for NovoCure Limited (NASDAQ:NVCR) This Quarter

Equities analysts expect NovoCure Limited (NASDAQ:NVCR) to report sales of $134.88 million for the current quarter, according to Zacks. Four analysts have made estimates for NovoCure’s earnings, with the highest sales estimate coming in at $139.50 million and the lowest estimate coming in at $133.10 million. NovoCure reported sales of $143.95 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The firm is expected to issue its next earnings report before the market opens on Thursday, February 24th.

According to Zacks, analysts expect that NovoCure will report full year sales of $540.31 million for the current fiscal year, with estimates ranging from $534.92 million to $558.30 million. For the next year, analysts expect that the firm will post sales of $574.87 million, with estimates ranging from $561.50 million to $613.83 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for NovoCure.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, October 28th. The medical equipment provider reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.07). The firm had revenue of $133.61 million during the quarter, compared to analyst estimates of $141.22 million. NovoCure had a negative net margin of 4.94% and a negative return on equity of 6.50%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share.

A number of equities analysts have issued reports on NVCR shares. Wells Fargo & Company cut their price target on NovoCure from $105.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler cut their price target on NovoCure from $180.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, January 6th. Finally, Zacks Investment Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $155.43.

In other news, CEO Asaf Danziger bought 4,974 shares of the company’s stock in a transaction on Friday, November 26th. The shares were purchased at an average price of $102.44 per share, with a total value of $509,536.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.07% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of NVCR. Lumature Wealth Partners LLC bought a new stake in shares of NovoCure in the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of NovoCure in the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of NovoCure in the 2nd quarter worth approximately $32,000. Quadrant Capital Group LLC raised its holdings in NovoCure by 104.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 147 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Finally, Tradition Wealth Management LLC bought a new stake in NovoCure during the 2nd quarter valued at $34,000. 73.81% of the stock is currently owned by institutional investors.

NVCR stock traded down $0.60 during mid-day trading on Friday, reaching $69.12. 888,342 shares of the company traded hands, compared to its average volume of 949,444. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -256.00 and a beta of 0.89. The company has a quick ratio of 8.40, a current ratio of 8.58 and a debt-to-equity ratio of 1.36. NovoCure has a fifty-two week low of $60.57 and a fifty-two week high of $232.76. The firm’s 50 day moving average price is $88.94 and its 200 day moving average price is $124.41.

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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