Brokerages Anticipate NovoCure Limited (NASDAQ:NVCR) Will Announce Quarterly Sales of $134.88 Million

Equities research analysts expect NovoCure Limited (NASDAQ:NVCR) to post sales of $134.88 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for NovoCure’s earnings. The lowest sales estimate is $133.10 million and the highest is $139.50 million. NovoCure reported sales of $143.95 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.3%. The business is scheduled to report its next earnings report before the market opens on Thursday, February 24th.

On average, analysts expect that NovoCure will report full-year sales of $540.31 million for the current year, with estimates ranging from $534.92 million to $558.30 million. For the next financial year, analysts forecast that the company will post sales of $574.87 million, with estimates ranging from $561.50 million to $613.83 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover NovoCure.

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

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

Shares of NVCR traded down $0.60 during mid-day trading on Friday, reaching $69.12. 888,342 shares of the stock traded hands, compared to its average volume of 949,444. The firm has a fifty day moving average price of $88.94 and a 200 day moving average price of $124.41. The company 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 current ratio of 8.58, a quick ratio of 8.40 and a debt-to-equity ratio of 1.36. NovoCure has a 1 year low of $60.57 and a 1 year high of $232.76.

In other news, CEO Asaf Danziger acquired 4,974 shares of NovoCure stock in a transaction dated Friday, November 26th. The stock was purchased at an average cost of $102.44 per share, with a total value of $509,536.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.07% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors grew its stake in shares of NovoCure by 6.5% in the 3rd quarter. Capital World Investors now owns 12,620,500 shares of the medical equipment provider’s stock worth $1,466,123,000 after buying an additional 774,799 shares in the last quarter. FMR LLC grew its stake in shares of NovoCure by 5.8% in the 2nd quarter. FMR LLC now owns 9,619,135 shares of the medical equipment provider’s stock worth $2,133,717,000 after buying an additional 530,696 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of NovoCure by 12,279.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 359,266 shares of the medical equipment provider’s stock worth $79,692,000 after acquiring an additional 356,364 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NovoCure by 27.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,569,485 shares of the medical equipment provider’s stock worth $348,143,000 after acquiring an additional 341,783 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of NovoCure by 29.7% in the 2nd quarter. Macquarie Group Ltd. now owns 912,190 shares of the medical equipment provider’s stock worth $202,343,000 after acquiring an additional 208,856 shares during the last quarter. 73.81% of the stock is owned by institutional investors.

NovoCure Company Profile

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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