NovoCure Limited (NASDAQ:NVCR) Expected to Post Earnings of -$0.05 Per Share

Brokerages expect NovoCure Limited (NASDAQ:NVCR) to post earnings per share of ($0.05) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for NovoCure’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.10). NovoCure posted earnings per share of $0.09 during the same quarter last year, which suggests a negative year-over-year growth rate of 155.6%. The company is expected to announce its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that NovoCure will report full-year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.36) to ($0.12). For the next year, analysts anticipate that the firm will post earnings of $0.06 per share, with EPS estimates ranging from ($0.29) to $0.57. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for NovoCure.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 29th. The medical equipment provider reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.16). The company had revenue of $133.52 million during the quarter, compared to analysts’ expectations of $141.50 million. NovoCure had a negative return on equity of 1.18% and a negative net margin of 0.84%.

NVCR has been the subject of several research reports. Wells Fargo & Company reduced 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. Mizuho reduced their price target on NovoCure from $229.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, July 30th. Piper Sandler restated an “overweight” rating and issued a $235.00 target price (down from $240.00) on shares of NovoCure in a report on Thursday, July 29th. Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a report on Tuesday, August 3rd. Finally, TheStreet lowered NovoCure from a “c” rating to a “d+” rating in a report on Friday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, NovoCure has a consensus rating of “Hold” and a consensus target price of $186.14.

In other NovoCure news, Director Gabriel Leung sold 1,000 shares of the stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $183.54, for a total value of $183,540.00. Following the transaction, the director now owns 73,859 shares of the company’s stock, valued at $13,556,080.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ely Benaim sold 651 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $158.96, for a total value of $103,482.96. The disclosure for this sale can be found here. In the last three months, insiders sold 32,457 shares of company stock worth $4,645,591. Insiders own 5.07% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Capital International Investors grew its holdings in shares of NovoCure by 10.4% during the first quarter. Capital International Investors now owns 9,117,624 shares of the medical equipment provider’s stock worth $1,205,168,000 after buying an additional 862,354 shares in the last quarter. BlackRock Inc. grew its stake in NovoCure by 10.8% in the first quarter. BlackRock Inc. now owns 6,424,960 shares of the medical equipment provider’s stock valued at $849,251,000 after purchasing an additional 628,280 shares in the last quarter. Baillie Gifford & Co. grew its stake in NovoCure by 7.3% in the first quarter. Baillie Gifford & Co. now owns 8,863,932 shares of the medical equipment provider’s stock valued at $1,171,635,000 after purchasing an additional 602,857 shares in the last quarter. FMR LLC grew its stake in NovoCure by 5.8% in the second quarter. FMR LLC now owns 9,619,135 shares of the medical equipment provider’s stock valued at $2,133,717,000 after purchasing an additional 530,696 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in NovoCure by 12,279.9% in the second quarter. Frontier Capital Management Co. LLC now owns 359,266 shares of the medical equipment provider’s stock valued at $79,692,000 after purchasing an additional 356,364 shares in the last quarter. Institutional investors own 74.09% of the company’s stock.

NASDAQ:NVCR traded down $0.43 on Friday, hitting $125.64. 5,079 shares of the company’s stock traded hands, compared to its average volume of 802,735. The company has a current ratio of 9.00, a quick ratio of 8.77 and a debt-to-equity ratio of 1.41. NovoCure has a 1 year low of $97.21 and a 1 year high of $232.76. The firm has a 50-day moving average price of $154.95 and a 200-day moving average price of $170.52. The company has a market cap of $13.02 billion, a PE ratio of -2,520.90 and a beta of 1.10.

About NovoCure

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.

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