NovoCure Limited to Post FY2021 Earnings of ($0.40) Per Share, Oppenheimer Forecasts (NASDAQ:NVCR)

NovoCure Limited (NASDAQ:NVCR) – Analysts at Oppenheimer dropped their FY2021 earnings per share (EPS) estimates for shares of NovoCure in a research note issued to investors on Monday, January 10th. Oppenheimer analyst K. Degeeter now forecasts that the medical equipment provider will post earnings per share of ($0.40) for the year, down from their previous forecast of ($0.33). Oppenheimer also issued estimates for NovoCure’s Q4 2021 earnings at ($0.09) EPS.

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

Shares of NASDAQ NVCR opened at $69.12 on Thursday. NovoCure has a 12 month low of $60.57 and a 12 month high of $232.76. 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 quick ratio of 8.40, a current ratio of 8.58 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $88.94 and a 200-day simple moving average of $124.41.

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

In other NovoCure news, CEO Asaf Danziger purchased 4,974 shares of the 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.07% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Utah Retirement Systems lifted its stake in shares of NovoCure by 0.5% in the 2nd quarter. Utah Retirement Systems now owns 19,400 shares of the medical equipment provider’s stock valued at $4,304,000 after acquiring an additional 100 shares during the last quarter. Northstar Asset Management LLC grew its holdings in NovoCure by 0.7% during the 2nd quarter. Northstar Asset Management LLC now owns 16,180 shares of the medical equipment provider’s stock worth $3,589,000 after acquiring an additional 110 shares during the period. Advisory Services Network LLC grew its stake in shares of NovoCure by 1.6% in the 3rd quarter. Advisory Services Network LLC now owns 7,183 shares of the medical equipment provider’s stock valued at $834,000 after buying an additional 110 shares during the period. Rafferty Asset Management LLC grew its stake in shares of NovoCure by 4.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 3,055 shares of the medical equipment provider’s stock valued at $678,000 after buying an additional 122 shares during the period. Finally, Eaton Vance Management lifted its position in NovoCure by 0.9% in the 3rd quarter. Eaton Vance Management now owns 14,152 shares of the medical equipment provider’s stock valued at $1,624,000 after acquiring an additional 123 shares in the last quarter. 73.81% of the stock is currently owned by institutional investors and hedge funds.

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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