NovoCure (NVCR) Expected to Announce Quarterly Sales of $56.79 Million

Wall Street brokerages expect NovoCure (NASDAQ:NVCR) to report $56.79 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for NovoCure’s earnings, with estimates ranging from $54.00 million to $59.57 million. NovoCure posted sales of $34.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 62.8%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, April 26th.

On average, analysts expect that NovoCure will report full year sales of $251.28 million for the current fiscal year, with estimates ranging from $232.38 million to $270.77 million. For the next financial year, analysts forecast that the company will post sales of $341.57 million per share, with estimates ranging from $296.60 million to $372.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover NovoCure.

How to Become a New Pot Stock Millionaire

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. NovoCure had a negative return on equity of 51.74% and a negative net margin of 34.83%. The firm had revenue of $53.66 million during the quarter, compared to analyst estimates of $53.17 million. During the same period last year, the company posted ($0.26) EPS. The business’s quarterly revenue was up 77.4% on a year-over-year basis.

A number of brokerages recently commented on NVCR. ValuEngine raised NovoCure from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub raised NovoCure from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Zacks Investment Research lowered NovoCure from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Mizuho reaffirmed a “buy” rating and issued a $28.00 target price (up from $25.00) on shares of NovoCure in a research report on Friday, February 23rd. Finally, Deutsche Bank decreased their target price on NovoCure from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. NovoCure currently has an average rating of “Buy” and a consensus price target of $19.71.

NVCR stock opened at $21.55 on Tuesday. NovoCure has a 1-year low of $10.43 and a 1-year high of $24.15. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.88 and a quick ratio of 4.44. The stock has a market capitalization of $1,948.10, a PE ratio of -30.79 and a beta of 3.14.

In other NovoCure news, CEO Asaf Danziger sold 13,974 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $24.02, for a total transaction of $335,655.48. Following the completion of the sale, the chief executive officer now directly owns 356,790 shares of the company’s stock, valued at approximately $8,570,095.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Todd Christopher Longsworth sold 6,591 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.83, for a total value of $130,699.53. Following the sale, the general counsel now directly owns 26,665 shares of the company’s stock, valued at $528,766.95. The disclosure for this sale can be found here. Insiders have sold a total of 164,852 shares of company stock valued at $3,507,988 over the last three months. Corporate insiders own 16.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NVCR. Bank of New York Mellon Corp increased its holdings in NovoCure by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 203,031 shares of the medical equipment provider’s stock worth $4,030,000 after purchasing an additional 2,724 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in NovoCure by 18.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 24,802 shares of the medical equipment provider’s stock worth $492,000 after purchasing an additional 3,876 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in NovoCure during the 3rd quarter worth approximately $1,163,000. American International Group Inc. increased its holdings in NovoCure by 8.1% during the 3rd quarter. American International Group Inc. now owns 38,722 shares of the medical equipment provider’s stock worth $769,000 after purchasing an additional 2,896 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in NovoCure by 80.6% during the 3rd quarter. Legal & General Group Plc now owns 25,045 shares of the medical equipment provider’s stock worth $502,000 after purchasing an additional 11,179 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/04/17/novocure-nvcr-expected-to-announce-quarterly-sales-of-56-79-million.html.

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.

Get a free copy of the Zacks research report on NovoCure (NVCR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NovoCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply