NovoCure Limited (NASDAQ:NVCR) – Piper Sandler lowered their Q2 2021 EPS estimates for NovoCure in a research note issued on Thursday, April 29th. Piper Sandler analyst J. Bednar now forecasts that the medical equipment provider will post earnings per share of ($0.01) for the quarter, down from their previous estimate of $0.01. Piper Sandler currently has a “Overweight” rating and a $225.00 price target on the stock. Piper Sandler also issued estimates for NovoCure’s Q3 2021 earnings at $0.01 EPS, Q4 2021 earnings at $0.05 EPS, Q4 2022 earnings at $0.15 EPS and FY2022 earnings at $0.39 EPS.
NVCR has been the subject of a number of other reports. Mizuho raised their target price on NovoCure from $175.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Northland Securities raised their target price on NovoCure from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, April 20th. Wedbush reiterated an “underperform” rating and issued a $154.00 price objective (down previously from $159.00) on shares of NovoCure in a research note on Tuesday, April 20th. TheStreet cut NovoCure from a “b-” rating to a “c” rating in a research note on Monday, February 1st. Finally, Wells Fargo & Company boosted their target price on NovoCure from $135.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $195.71.
NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, April 29th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). NovoCure had a return on equity of 7.40% and a net margin of 4.26%.
A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in NovoCure by 1.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,261,075 shares of the medical equipment provider’s stock worth $1,429,497,000 after acquiring an additional 136,430 shares during the period. Morgan Stanley boosted its position in NovoCure by 2.1% during the fourth quarter. Morgan Stanley now owns 1,350,654 shares of the medical equipment provider’s stock worth $233,718,000 after purchasing an additional 28,065 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NovoCure by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,238,204 shares of the medical equipment provider’s stock worth $214,259,000 after purchasing an additional 22,886 shares in the last quarter. Wells Fargo & Company MN boosted its position in NovoCure by 5.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,141,281 shares of the medical equipment provider’s stock worth $197,487,000 after purchasing an additional 54,756 shares in the last quarter. Finally, Norges Bank purchased a new stake in NovoCure during the fourth quarter worth $148,269,000. 71.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ely Benaim sold 5,958 shares of the company’s stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $200.00, for a total transaction of $1,191,600.00. Following the transaction, the insider now owns 35,092 shares of the company’s stock, valued at $7,018,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William F. Doyle sold 7,928 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $134.12, for a total value of $1,063,303.36. Following the transaction, the chairman now directly owns 658,321 shares in the company, valued at approximately $88,294,012.52. The disclosure for this sale can be found here. In the last three months, insiders sold 216,529 shares of company stock worth $41,906,260. Corporate insiders own 5.07% of the company’s stock.
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 delivery system for use as a monotherapy treatment for adult patients with glioblastoma.
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