Zacks: Brokerages Anticipate Novocure Ltd (NASDAQ:NVCR) to Post $0.06 EPS

Analysts expect Novocure Ltd (NASDAQ:NVCR) to post $0.06 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Novocure’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.14. Novocure posted earnings of $0.02 per share during the same quarter last year, which suggests a positive year over year growth rate of 200%. The business is scheduled to report its next earnings results on Thursday, October 29th.

According to Zacks, analysts expect that Novocure will report full year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.07 to $0.46. For the next financial year, analysts anticipate that the business will report earnings of $0.36 per share, with EPS estimates ranging from $0.16 to $0.56. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Novocure.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, July 30th. The medical equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $105.96 million. Novocure had a net margin of 2.88% and a return on equity of 5.14%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS.

Several analysts recently issued reports on NVCR shares. BidaskClub upgraded Novocure from a “strong sell” rating to a “sell” rating in a research report on Friday, September 11th. Oppenheimer reiterated a “hold” rating on shares of Novocure in a research report on Thursday, July 30th. ValuEngine upgraded shares of Novocure from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Wedbush reiterated a “neutral” rating on shares of Novocure in a report on Friday, July 31st. Finally, Mizuho increased their price objective on shares of Novocure from $82.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Novocure has an average rating of “Hold” and an average target price of $78.67.

In related news, insider Ely Benaim sold 341 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $76.39, for a total transaction of $26,048.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pritesh Shah sold 28,321 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $85.41, for a total value of $2,418,896.61. Following the completion of the transaction, the insider now directly owns 71,165 shares in the company, valued at approximately $6,078,202.65. The disclosure for this sale can be found here. Insiders have sold 167,222 shares of company stock worth $14,245,082 in the last quarter. Company insiders own 5.07% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in Novocure by 229.5% in the 1st quarter. First Horizon Advisors Inc. now owns 435 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 303 shares during the period. Fifth Third Bancorp raised its stake in shares of Novocure by 15.7% during 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 boosted its holdings in shares of Novocure by 1,923.1% in the second quarter. AdvisorNet Financial Inc now owns 1,315 shares of the medical equipment provider’s stock valued at $78,000 after purchasing an additional 1,250 shares during the period. IFP Advisors Inc grew its stake in Novocure by 8.2% in 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. purchased a new position in Novocure during the 2nd quarter worth $119,000. Institutional investors own 67.57% of the company’s stock.

Shares of NVCR stock traded up $2.79 on Wednesday, hitting $107.25. 2,138,918 shares of the stock traded hands, compared to its average volume of 973,377. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 893.82 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 5.73 and a quick ratio of 5.42. The firm has a 50 day simple moving average of $80.21 and a two-hundred day simple moving average of $69.23. Novocure has a 52 week low of $53.40 and a 52 week high of $109.95.

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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Earnings History and Estimates for Novocure (NASDAQ:NVCR)

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