Truist Securiti Weighs in on NovoCure Limited’s Q2 2021 Earnings (NASDAQ:NVCR)


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NovoCure Limited (NASDAQ:NVCR) – Truist Securiti dropped their Q2 2021 earnings estimates for shares of NovoCure in a report released on Friday, April 30th. Truist Securiti analyst G. Gilbert now anticipates that the medical equipment provider will post earnings of $0.05 per share for the quarter, down from their previous estimate of $0.08. Truist Securiti also issued estimates for NovoCure’s Q3 2021 earnings at $0.03 EPS, Q4 2021 earnings at $0.00 EPS, FY2022 earnings at $0.59 EPS, FY2023 earnings at $0.96 EPS and FY2024 earnings at $1.20 EPS.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 29th. The medical equipment provider reported ($0.04) 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%.

NVCR has been the topic of a number of other reports. Piper Sandler increased their target price on NovoCure from $140.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, January 25th. Truist upped their price target on NovoCure from $132.00 to $142.00 in a report on Monday, April 19th. Northland Securities upped their price target on NovoCure from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, April 20th. Wedbush reaffirmed an “underperform” rating and set a $154.00 price target (down from $159.00) on shares of NovoCure in a report on Tuesday, April 20th. Finally, TheStreet downgraded NovoCure from a “b-” rating to a “c” rating in a report on Monday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. NovoCure presently has an average rating of “Hold” and a consensus price target of $195.71.

NASDAQ NVCR opened at $197.30 on Monday. NovoCure has a 12 month low of $55.40 and a 12 month high of $220.48. The stock has a market cap of $20.40 billion, a P/E ratio of 1,038.48 and a beta of 1.29. The stock’s fifty day moving average price is $161.96 and its 200-day moving average price is $154.62.

In other news, insider Ely Benaim sold 5,958 shares of the firm’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $200.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabriel Leung sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $198.84, for a total value of $1,193,040.00. Following the completion of the transaction, the director now directly owns 78,045 shares in the company, valued at approximately $15,518,467.80. 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. 5.07% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its stake in shares of NovoCure by 4.4% in the first quarter. CWM LLC now owns 1,364 shares of the medical equipment provider’s stock worth $180,000 after buying an additional 58 shares during the period. Xponance Inc. grew its position in shares of NovoCure by 0.8% during the fourth quarter. Xponance Inc. now owns 10,488 shares of the medical equipment provider’s stock worth $1,815,000 after purchasing an additional 86 shares in the last quarter. US Bancorp DE grew its position in shares of NovoCure by 4.4% during the first quarter. US Bancorp DE now owns 2,878 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 122 shares in the last quarter. Sterling Financial Planning Inc. purchased a new stake in shares of NovoCure during the fourth quarter worth about $26,000. Finally, Essex Financial Services Inc. grew its position in shares of NovoCure by 5.1% during the fourth quarter. Essex Financial Services Inc. now owns 3,600 shares of the medical equipment provider’s stock worth $623,000 after purchasing an additional 175 shares in the last quarter. 71.09% of the stock is currently owned by hedge funds and other institutional investors.

About NovoCure

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.

Further Reading: Depreciation

Earnings History and Estimates for NovoCure (NASDAQ:NVCR)

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