Wall Street brokerages expect Novocure Ltd (NASDAQ:NVCR) to announce ($0.14) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Novocure’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.16). Novocure reported earnings of ($0.26) per share during the same quarter last year, which would indicate a positive year over year growth rate of 46.2%. The firm is expected to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Novocure will report full-year earnings of ($0.65) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.45). For the next year, analysts expect that the firm will report earnings of ($0.32) per share, with EPS estimates ranging from ($0.56) to ($0.16). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Novocure.
Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.07. The firm had revenue of $50.10 million for the quarter, compared to analyst estimates of $43.45 million. Novocure had a negative net margin of 47.45% and a negative return on equity of 57.68%. The business’s quarterly revenue was up 130.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.39) earnings per share.
Novocure (NASDAQ:NVCR) traded up $0.70 during trading hours on Wednesday, hitting $21.00. 628,346 shares of the stock were exchanged, compared to its average volume of 790,030. The firm has a market capitalization of $1,880.00 and a price-to-earnings ratio of -25.30. Novocure has a 1 year low of $6.00 and a 1 year 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.
In other Novocure news, CEO Asaf Danziger sold 2,300 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $22.00, for a total transaction of $50,600.00. Following the transaction, the chief executive officer now directly owns 756,024 shares of the company’s stock, valued at $16,632,528. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Yoram Palti sold 30,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $21.78, for a total transaction of $653,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,281 shares of company stock worth $4,657,207. 16.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Novocure by 8.5% during the second quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 1,092 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Novocure by 2.6% during the second quarter. California State Teachers Retirement System now owns 102,309 shares of the medical equipment provider’s stock valued at $1,770,000 after purchasing an additional 2,600 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Novocure by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 203,031 shares of the medical equipment provider’s stock valued at $4,030,000 after purchasing an additional 2,724 shares in the last quarter. American International Group Inc. lifted its holdings in Novocure by 8.1% during the third quarter. American International Group Inc. now owns 38,722 shares of the medical equipment provider’s stock valued at $769,000 after purchasing an additional 2,896 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Novocure by 3.3% during the first quarter. Teachers Advisors LLC now owns 98,799 shares of the medical equipment provider’s stock valued at $800,000 after purchasing an additional 3,125 shares in the last quarter. 41.53% of the stock is currently owned by institutional investors and hedge funds.
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Novocure Company Profile
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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