Equities research analysts predict that Novocure Ltd (NASDAQ:NVCR) will post $118.82 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Novocure’s earnings, with estimates ranging from $114.70 million to $121.45 million. Novocure reported sales of $92.06 million during the same quarter last year, which indicates a positive year over year growth rate of 29.1%. The company is expected to announce its next earnings report on Thursday, October 29th.
According to Zacks, analysts expect that Novocure will report full year sales of $460.12 million for the current year, with estimates ranging from $453.20 million to $466.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $544.91 million, with estimates ranging from $506.70 million to $569.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Novocure.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 30th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Novocure had a return on equity of 5.14% and a net margin of 2.88%. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $105.96 million. During the same period last year, the company posted ($0.01) EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis.
Shares of NASDAQ NVCR traded up $2.79 during midday trading on Friday, hitting $107.25. The stock had a trading volume of 2,138,918 shares, compared to its average volume of 973,377. The company has a quick ratio of 5.42, a current ratio of 5.73 and a debt-to-equity ratio of 0.61. Novocure has a 1-year low of $53.40 and a 1-year high of $109.95. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 893.82 and a beta of 1.59. The company has a fifty day moving average price of $80.21 and a 200 day moving average price of $69.23.
In other Novocure news, COO Wilhelmus Cm Groenhuysen sold 50,868 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $103.27, for a total value of $5,253,138.36. Following the sale, the chief operating officer now directly owns 155,107 shares of the company’s stock, valued at $16,017,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William F. Doyle sold 896 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $76.39, for a total value of $68,445.44. Following the completion of the sale, the chairman now owns 649,062 shares in the company, valued at $49,581,846.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,222 shares of company stock worth $14,245,082. Insiders own 5.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its stake in shares of Novocure by 229.5% during the first quarter. First Horizon Advisors Inc. now owns 435 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 303 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Novocure by 15.7% in the first quarter. Fifth Third Bancorp now owns 1,163 shares of the medical equipment provider’s stock valued at $78,000 after acquiring an additional 158 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Novocure by 1,923.1% during the second quarter. AdvisorNet Financial Inc now owns 1,315 shares of the medical equipment provider’s stock valued at $78,000 after acquiring an additional 1,250 shares during the period. IFP Advisors Inc raised its holdings in Novocure by 8.2% during the second quarter. IFP Advisors Inc now owns 1,971 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 149 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Novocure in the second quarter worth approximately $119,000. Hedge funds and other institutional investors own 67.57% 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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