NovoCure Limited (NASDAQ:NVCR) Expected to Announce Earnings of -$0.10 Per Share

Wall Street analysts expect that NovoCure Limited (NASDAQ:NVCR) will report earnings of ($0.10) per share for the current quarter, according to Zacks. Five analysts have provided estimates for NovoCure’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.02). NovoCure reported earnings of $0.04 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 350%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 24th.

On average, analysts expect that NovoCure will report full-year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.45) to ($0.33). For the next financial year, analysts expect that the firm will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.71) to $0.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow NovoCure.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 28th. The medical equipment provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). NovoCure had a negative net margin of 4.94% and a negative return on equity of 6.50%. The company had revenue of $133.61 million for the quarter, compared to analyst estimates of $141.22 million. During the same period last year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis.

A number of analysts have recently issued reports on NVCR shares. Piper Sandler cut their price objective on NovoCure from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 25th. TheStreet cut NovoCure from a “c” rating to a “d+” rating in a research report on Friday, August 13th. Mizuho cut their price objective on NovoCure from $229.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, July 30th. Zacks Investment Research raised NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday, August 3rd. Finally, Wells Fargo & Company dropped their price target on NovoCure from $215.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, July 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Hold” and an average price target of $180.43.

Shares of NVCR traded up $6.39 during mid-day trading on Thursday, reaching $99.73. The company’s stock had a trading volume of 761,583 shares, compared to its average volume of 743,044. NovoCure has a 1-year low of $90.95 and a 1-year high of $232.76. The stock has a market cap of $10.35 billion, a P/E ratio of -369.37 and a beta of 0.97. The business has a 50-day simple moving average of $113.38 and a two-hundred day simple moving average of $153.99. The company has a current ratio of 8.58, a quick ratio of 8.40 and a debt-to-equity ratio of 1.36.

In other NovoCure news, insider Frank X. Leonard sold 540 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 $74,644.20. Following the transaction, the insider now owns 74,013 shares in the company, valued at approximately $10,230,816.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $25,019.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,549 shares of company stock worth $214,118. Corporate insiders own 5.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NVCR. Capital World Investors increased its stake in shares of NovoCure by 6.5% in the 3rd quarter. Capital World Investors now owns 12,620,500 shares of the medical equipment provider’s stock valued at $1,466,123,000 after purchasing an additional 774,799 shares during the last quarter. FMR LLC grew its position in NovoCure by 5.8% during the 2nd 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 last quarter. Baillie Gifford & Co. grew its position in NovoCure by 4.9% during the 2nd quarter. Baillie Gifford & Co. now owns 9,301,081 shares of the medical equipment provider’s stock worth $2,063,165,000 after acquiring an additional 437,149 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in NovoCure by 12,279.9% during the 2nd 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 last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in NovoCure by 27.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,569,485 shares of the medical equipment provider’s stock worth $348,143,000 after acquiring an additional 341,783 shares during the last quarter. Institutional investors own 75.45% of the company’s stock.

NovoCure Company Profile

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.

Recommended Story: Current Ratio

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

Earnings History and Estimates for NovoCure (NASDAQ:NVCR)

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.