Zacks: Analysts Expect NovoCure Limited (NASDAQ:NVCR) Will Post Earnings of -$0.10 Per Share

Equities research analysts predict that NovoCure Limited (NASDAQ:NVCR) will report earnings of ($0.10) per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for NovoCure’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.14). NovoCure reported earnings of $0.04 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 350%. The business is expected to announce its next earnings results on Thursday, February 24th.

According to Zacks, analysts expect that NovoCure will report full-year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.33). For the next financial year, analysts expect that the business will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.71) to $0.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover NovoCure.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, October 28th. The medical equipment provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $133.61 million during the quarter, compared to analyst estimates of $141.22 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year.

NVCR has been the subject of several recent analyst reports. Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a report on Tuesday, August 3rd. Mizuho lowered their price target on NovoCure from $229.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, July 30th. Piper Sandler lowered their price target on NovoCure from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 25th. Wells Fargo & Company lowered their price target on NovoCure from $215.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, July 30th. Finally, TheStreet downgraded NovoCure from a “c” rating to a “d+” rating in a report on Friday, August 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, NovoCure presently has a consensus rating of “Hold” and a consensus price target of $180.43.

NASDAQ:NVCR traded up $6.39 during mid-day trading on Thursday, hitting $99.73. The company had a trading volume of 761,583 shares, compared to its average volume of 743,044. NovoCure has a fifty-two week low of $90.95 and a fifty-two week high of $232.76. The business’s fifty day moving average is $113.38 and its two-hundred day moving average is $153.99. The company has a debt-to-equity ratio of 1.36, a quick ratio of 8.40 and a current ratio of 8.58. The firm has a market cap of $10.35 billion, a P/E ratio of -369.37 and a beta of 0.97.

In other news, COO Wilhelmus Cm Groenhuysen sold 181 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $138.23, for a total value of $25,019.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank X. Leonard sold 540 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $138.23, for a total value of $74,644.20. Following the completion of the sale, the insider now directly owns 74,013 shares of the company’s stock, valued at $10,230,816.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,549 shares of company stock valued at $214,118. 5.07% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its holdings in NovoCure by 40.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,555 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 739 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in NovoCure during the 3rd quarter worth approximately $211,000. Janus Henderson Group PLC lifted its holdings in NovoCure by 89.5% during the 3rd quarter. Janus Henderson Group PLC now owns 56,367 shares of the medical equipment provider’s stock worth $6,548,000 after purchasing an additional 26,625 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in NovoCure by 82.9% during the 3rd quarter. Squarepoint Ops LLC now owns 133,266 shares of the medical equipment provider’s stock worth $15,482,000 after purchasing an additional 60,420 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in NovoCure by 3.6% during the 3rd quarter. Two Sigma Advisers LP now owns 326,700 shares of the medical equipment provider’s stock worth $37,953,000 after purchasing an additional 11,400 shares during the last quarter. 75.45% 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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