-$0.04 EPS Expected for Novocure Ltd (NASDAQ:NVCR) This Quarter

Wall Street brokerages expect Novocure Ltd (NASDAQ:NVCR) to announce ($0.04) earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Novocure’s earnings, with estimates ranging from ($0.13) to $0.03. Novocure posted earnings per share of ($0.17) during the same quarter last year, which indicates a positive year-over-year growth rate of 76.5%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, July 25th.

According to Zacks, analysts expect that Novocure will report full year earnings of ($0.17) per share for the current financial year, with EPS estimates ranging from ($0.41) to $0.04. For the next financial year, analysts expect that the business will report earnings of $0.83 per share, with EPS estimates ranging from $0.48 to $1.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Novocure.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The firm had revenue of $73.31 million during the quarter, compared to analyst estimates of $72.85 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s revenue was up 40.6% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised Novocure from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. BidaskClub raised Novocure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novocure in a research note on Sunday, May 26th. SunTrust Banks assumed coverage on Novocure in a research note on Tuesday, March 19th. They issued a “hold” rating and a $50.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Novocure in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $52.44.

NVCR stock traded up $0.53 during mid-day trading on Wednesday, hitting $64.90. 2,418 shares of the stock were exchanged, compared to its average volume of 671,635. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.73 and a quick ratio of 4.39. The firm’s fifty day simple moving average is $57.37. Novocure has a 12 month low of $26.02 and a 12 month high of $66.05. The company has a market cap of $6.22 billion, a PE ratio of -94.12 and a beta of 2.45.

In other Novocure news, CEO Asaf Danziger sold 187,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $62.15, for a total transaction of $11,653,125.00. Following the completion of the transaction, the chief executive officer now owns 445,811 shares of the company’s stock, valued at approximately $27,707,153.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael J. Ambrogi sold 110,868 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $60.00, for a total value of $6,652,080.00. Following the transaction, the chief operating officer now directly owns 296,542 shares of the company’s stock, valued at approximately $17,792,520. The disclosure for this sale can be found here. In the last three months, insiders sold 841,470 shares of company stock valued at $47,899,620. 5.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cortina Asset Management LLC raised its position in Novocure by 13.0% during the 2nd quarter. Cortina Asset Management LLC now owns 141,352 shares of the medical equipment provider’s stock valued at $8,938,000 after purchasing an additional 16,291 shares during the last quarter. Cerebellum GP LLC bought a new position in Novocure during the 1st quarter valued at approximately $300,000. Trexquant Investment LP raised its position in Novocure by 355.1% during the 1st quarter. Trexquant Investment LP now owns 32,438 shares of the medical equipment provider’s stock valued at $1,563,000 after purchasing an additional 25,310 shares during the last quarter. Granite Investment Partners LLC raised its position in Novocure by 19.1% during the 1st quarter. Granite Investment Partners LLC now owns 396,158 shares of the medical equipment provider’s stock valued at $19,083,000 after purchasing an additional 63,491 shares during the last quarter. Finally, Delek Group Ltd. bought a new position in Novocure during the 1st quarter valued at approximately $1,614,000. 65.34% of the stock is owned by institutional investors and hedge funds.

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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