Novocure Ltd (NVCR) Expected to Post Quarterly Sales of $52.92 Million
Brokerages expect Novocure Ltd (NASDAQ:NVCR) to post $52.92 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Novocure’s earnings, with the lowest sales estimate coming in at $51.30 million and the highest estimate coming in at $55.27 million. Novocure reported sales of $30.24 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 75%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Novocure will report full year sales of $52.92 million for the current year, with estimates ranging from $174.70 million to $178.66 million. For the next year, analysts anticipate that the business will post sales of $266.32 million per share, with estimates ranging from $252.37 million to $289.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Novocure.
Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $43.45 million. During the same quarter in the previous year, the company posted ($0.39) EPS. Novocure’s revenue for the quarter was up 130.9% on a year-over-year basis.
In related news, insider Yoram Palti sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.13, for a total value of $513,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Asaf Danziger sold 35,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $22.01, for a total value of $781,355.00. Following the completion of the sale, the chief executive officer now owns 776,862 shares in the company, valued at approximately $17,098,732.62. The disclosure for this sale can be found here. Insiders sold a total of 299,953 shares of company stock valued at $6,278,763 in the last three months. Corporate insiders own 16.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Novocure by 61.7% during the 1st quarter. Bank of America Corp DE now owns 37,531 shares of the medical equipment provider’s stock valued at $305,000 after purchasing an additional 14,321 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Novocure during the 2nd quarter valued at $534,000. ETF Managers Group LLC purchased a new stake in Novocure during the 2nd quarter valued at $408,000. River & Mercantile Asset Management LLP boosted its stake in Novocure by 9.9% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 127,520 shares of the medical equipment provider’s stock valued at $2,203,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Novocure during the 2nd quarter valued at $362,000. Institutional investors and hedge funds own 41.54% of the company’s stock.
Novocure (NVCR) traded up $0.35 during midday trading on Friday, hitting $19.60. The stock had a trading volume of 1,402,632 shares, compared to its average volume of 806,714. Novocure has a 12 month low of $6.00 and a 12 month high of $22.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30.
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NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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