Analysts predict that Novocure Ltd (NASDAQ:NVCR) will announce $87.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Novocure’s earnings, with the lowest sales estimate coming in at $84.30 million and the highest estimate coming in at $91.20 million. Novocure reported sales of $64.76 million during the same quarter last year, which would suggest a positive year over year growth rate of 35.6%. The business is scheduled to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Novocure will report full year sales of $343.08 million for the current financial year, with estimates ranging from $334.50 million to $351.10 million. For the next fiscal year, analysts expect that the firm will post sales of $468.34 million, with estimates ranging from $443.12 million to $488.00 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Novocure.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.06. Novocure had a negative return on equity of 31.80% and a negative net margin of 13.84%. The business had revenue of $86.70 million during the quarter, compared to analyst estimates of $78.98 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Novocure’s revenue was up 41.0% on a year-over-year basis.
Shares of NASDAQ NVCR traded down $1.76 during midday trading on Friday, hitting $84.08. 341,166 shares of the company’s stock traded hands, compared to its average volume of 782,157. Novocure has a 1 year low of $26.02 and a 1 year high of $86.58. The stock has a market capitalization of $8.43 billion, a PE ratio of -121.86 and a beta of 2.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.03 and a quick ratio of 4.68. The company has a fifty day moving average price of $66.43.
In related news, insider William F. Doyle sold 29,038 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $48.07, for a total transaction of $1,395,856.66. Following the completion of the transaction, the insider now directly owns 815,935 shares in the company, valued at approximately $39,221,995.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William F. Doyle sold 64,316 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $47.60, for a total value of $3,061,441.60. Following the transaction, the insider now owns 842,605 shares of the company’s stock, valued at $40,107,998. The disclosure for this sale can be found here. Insiders have sold a total of 835,300 shares of company stock valued at $48,315,522 in the last ninety days. Insiders own 5.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Strategic Financial Services Inc bought a new position in shares of Novocure during the 1st quarter valued at approximately $207,000. Wells Fargo & Company MN grew its stake in shares of Novocure by 9.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,049,656 shares of the medical equipment provider’s stock valued at $50,563,000 after acquiring an additional 92,084 shares during the period. Trexquant Investment LP grew its stake in shares of 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 acquiring an additional 25,310 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Novocure during the 4th quarter valued at approximately $1,435,000. Finally, Steinberg Global Asset Management grew its stake in shares of Novocure by 1.0% during the 1st quarter. Steinberg Global Asset Management now owns 136,765 shares of the medical equipment provider’s stock valued at $6,588,000 after acquiring an additional 1,371 shares during the period. Institutional investors own 65.23% 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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