Wall Street analysts predict that Novocure Ltd (NASDAQ:NVCR) will post sales of $81.52 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Novocure’s earnings, with the highest sales estimate coming in at $83.80 million and the lowest estimate coming in at $77.00 million. Novocure posted sales of $61.51 million in the same quarter last year, which indicates a positive year over year growth rate of 32.5%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, July 25th.
According to Zacks, analysts expect that Novocure will report full-year sales of $334.91 million for the current financial year, with estimates ranging from $310.00 million to $356.74 million. For the next financial year, analysts expect that the company will report sales of $502.28 million, with estimates ranging from $469.41 million to $564.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Novocure.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The company had revenue of $73.31 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same quarter in the prior year, the business posted ($0.23) EPS. The business’s revenue was up 40.6% compared to the same quarter last year.
In other news, COO Michael J. Ambrogi sold 110,868 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $60.00, for a total transaction of $6,652,080.00. Following the completion of the sale, the chief operating officer now directly owns 296,542 shares in the company, valued at approximately $17,792,520. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Asaf Danziger sold 187,500 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $62.15, for a total value of $11,653,125.00. Following the sale, the chief executive officer now owns 445,811 shares of the company’s stock, valued at $27,707,153.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 841,470 shares of company stock valued at $47,899,620. Corporate insiders own 5.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. PRW Wealth Management LLC bought a new stake in shares of Novocure during the 4th quarter valued at $36,000. NumerixS Investment Technologies Inc bought a new stake in shares of Novocure during the 4th quarter worth $59,000. QS Investors LLC bought a new stake in shares of Novocure during the 4th quarter worth $70,000. Strategic Financial Services Inc bought a new stake in shares of Novocure during the 1st quarter worth $207,000. Finally, Raymond James & Associates lifted its position in shares of Novocure by 31.7% during the 4th quarter. Raymond James & Associates now owns 7,113 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 1,714 shares during the last quarter. Hedge funds and other institutional investors own 65.34% of the company’s stock.
Shares of Novocure stock traded up $0.53 on Friday, reaching $64.90. 2,418 shares of the company were exchanged, compared to its average volume of 671,635. Novocure has a one year low of $26.02 and a one year high of $66.05. The firm has a market cap of $6.22 billion, a P/E ratio of -94.12 and a beta of 2.45. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average is $57.37.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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