-$0.05 Earnings Per Share Expected for NovoCure Limited (NASDAQ:NVCR) This Quarter

Wall Street analysts predict that NovoCure Limited (NASDAQ:NVCR) will announce ($0.05) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for NovoCure’s earnings, with estimates ranging from ($0.10) to $0.00. NovoCure posted earnings of $0.09 per share during the same quarter last year, which would suggest a negative year over year growth rate of 155.6%. The company is expected to announce its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that NovoCure will report full year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.36) to ($0.12). For the next financial year, analysts anticipate that the business will post earnings of $0.06 per share, with EPS estimates ranging from ($0.29) to $0.57. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for NovoCure.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 29th. The medical equipment provider reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.16). The firm had revenue of $133.52 million for the quarter, compared to the consensus estimate of $141.50 million. NovoCure had a negative net margin of 0.84% and a negative return on equity of 1.18%.

NVCR has been the topic of a number of research analyst reports. Mizuho dropped their target price on shares of NovoCure from $229.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, July 30th. Northland Securities assumed coverage on shares of NovoCure in a research report on Thursday, July 1st. They issued a “buy” rating and a $250.00 price target for the company. Zacks Investment Research raised shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday, August 3rd. Wells Fargo & Company decreased their target price on shares of NovoCure from $215.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, July 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 target price (down previously from $240.00) on shares of NovoCure in a research report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, NovoCure has a consensus rating of “Hold” and an average price target of $186.14.

NVCR stock traded down $0.43 during mid-day trading on Friday, reaching $125.64. The company had a trading volume of 5,079 shares, compared to its average volume of 802,735. The company has a debt-to-equity ratio of 1.41, a current ratio of 9.00 and a quick ratio of 8.77. The company has a market capitalization of $13.02 billion, a PE ratio of -2,520.90 and a beta of 1.10. The firm has a 50 day moving average of $154.95 and a 200 day moving average of $170.52. NovoCure has a 12 month low of $97.21 and a 12 month high of $232.76.

In other NovoCure news, insider Frank X. Leonard sold 540 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 74,013 shares of the company’s stock, valued at $10,230,816.99. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Wilhelmus Cm Groenhuysen sold 181 shares of the firm’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $138.23, for a total transaction of $25,019.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,457 shares of company stock valued at $4,645,591. Corporate insiders own 5.07% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NVCR. Capital International Investors increased its stake in shares of NovoCure by 10.4% in the first quarter. Capital International Investors now owns 9,117,624 shares of the medical equipment provider’s stock worth $1,205,168,000 after acquiring an additional 862,354 shares during the period. BlackRock Inc. increased its stake in shares of NovoCure by 10.8% in the first quarter. BlackRock Inc. now owns 6,424,960 shares of the medical equipment provider’s stock worth $849,251,000 after acquiring an additional 628,280 shares during the period. Baillie Gifford & Co. increased its stake in shares of NovoCure by 7.3% in the first quarter. Baillie Gifford & Co. now owns 8,863,932 shares of the medical equipment provider’s stock worth $1,171,635,000 after acquiring an additional 602,857 shares during the period. FMR LLC increased its stake in shares of NovoCure by 5.8% in the second quarter. FMR LLC now owns 9,619,135 shares of the medical equipment provider’s stock worth $2,133,717,000 after acquiring an additional 530,696 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in shares of NovoCure by 12,279.9% in the second quarter. Frontier Capital Management Co. LLC now owns 359,266 shares of the medical equipment provider’s stock worth $79,692,000 after acquiring an additional 356,364 shares during the period. Hedge funds and other institutional investors own 74.09% of the company’s stock.

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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