-$0.14 EPS Expected for NovoCure Limited (NASDAQ:NVCR) This Quarter

Wall Street brokerages expect NovoCure Limited (NASDAQ:NVCR – Get Rating) to post earnings of ($0.14) per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for NovoCure’s earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at ($0.06). NovoCure also reported earnings of ($0.14) per share in the same quarter last year. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that NovoCure will report full year earnings of ($0.53) per share for the current year, with EPS estimates ranging from ($0.81) to ($0.26). For the next financial year, analysts anticipate that the business will report earnings of ($0.53) per share, with EPS estimates ranging from ($1.01) to $0.09. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover NovoCure.

NovoCure (NASDAQ:NVCR – Get Rating) last released its earnings results on Thursday, April 28th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.15. NovoCure had a negative return on equity of 14.21% and a negative net margin of 10.94%. The business had revenue of $137.50 million for the quarter, compared to the consensus estimate of $134.29 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Several brokerages have commented on NVCR. Loop Capital began coverage on shares of NovoCure in a research report on Tuesday, February 8th. They set a “buy” rating and a $200.00 price target on the stock. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Oppenheimer raised shares of NovoCure from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a report on Wednesday, February 2nd. Piper Sandler dropped their target price on shares of NovoCure from $125.00 to $100.00 in a report on Friday, May 13th. Finally, HC Wainwright started coverage on shares of NovoCure in a report on Monday, May 16th. They issued a “buy” rating and a $115.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $144.75.

NVCR stock opened at $83.98 on Friday. The business’s 50-day simple moving average is $78.73 and its 200 day simple moving average is $79.55. The company has a quick ratio of 8.23, a current ratio of 8.46 and a debt-to-equity ratio of 1.29. NovoCure has a twelve month low of $56.51 and a twelve month high of $232.76. The company has a market cap of $8.78 billion, a PE ratio of -149.96 and a beta of 0.88.

In other NovoCure news, CFO Ashley Cordova sold 1,149 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $74.50, for a total value of $85,600.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pritesh Shah sold 3,669 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $71.19, for a total transaction of $261,196.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,843 shares of company stock worth $1,551,967. Insiders own 5.07% of the company’s stock.

Several large investors have recently made changes to their positions in NVCR. Capital World Investors boosted its position in shares of NovoCure by 6.5% during the 3rd quarter. Capital World Investors now owns 12,620,500 shares of the medical equipment provider’s stock worth $1,466,123,000 after acquiring an additional 774,799 shares in the last quarter. Capital International Investors boosted its position in shares of NovoCure by 7.3% during the 4th quarter. Capital International Investors now owns 11,332,005 shares of the medical equipment provider’s stock worth $850,846,000 after acquiring an additional 775,189 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of NovoCure by 2.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,615,168 shares of the medical equipment provider’s stock worth $721,906,000 after acquiring an additional 245,463 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NovoCure by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 7,997,688 shares of the medical equipment provider’s stock worth $662,609,000 after acquiring an additional 104,375 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of NovoCure by 0.6% during the 1st quarter. BlackRock Inc. now owns 6,732,513 shares of the medical equipment provider’s stock worth $557,787,000 after acquiring an additional 43,157 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.

About NovoCure (Get Rating)

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields (TTFields) devices for use as a monotherapy treatment for adult patients with glioblastoma.

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