In the last trading session, 2.4 million shares of the NovoCure Ltd (NASDAQ:NVCR) were traded, and its beta was 0.41. Most recently the company’s share price was $15.63, and it changed around $0.99 or 6.76% from the last close, which brings the market valuation of the company to $1.67B. NVCR currently trades at a discount to its 52-week high of $83.60, offering almost -434.87% off that amount. The share price’s 52-week low was $10.87, which indicates that the current value has risen by an impressive 30.45% since then. We note from NovoCure Ltd’s average daily trading volume that its 10-day average is 2.37 million shares, with the 3-month average coming to 1.40 million.
NovoCure Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.14. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended NVCR as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. NovoCure Ltd is expected to report earnings per share of -$0.42 for the current quarter.
NovoCure Ltd (NASDAQ:NVCR) trade information
Instantly NVCR has showed a green trend with a performance of 6.76% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 4.69% year-to-date, but still up 12.04% over the last five days. On the other hand, NovoCure Ltd (NASDAQ:NVCR) is -2.43% down in the 30-day period. We can see from the shorts that 5.54 million shares have been sold at a short interest cover period of 5.25 day(s).
The consensus price target as assigned by Wall Street analysts is $107.5, which translates to bulls needing to increase their stock price by 85.46% from its current value. Analyst projections state that NVCR is forecast to be at a low of $24 and a high of $200.
NovoCure Ltd (NVCR) estimates and forecasts
NovoCure Ltd share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -8.06 percent over the past six months and at a 11.28% annual growth rate that is well below the industry average of 14.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 16.00% in revenue this quarter, and will report an increase of 18.50% in the next quarter. The year-over-year growth rate is expected to be 5.70%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $131.75 million in revenue for the current quarter. 6 analysts expect NovoCure Ltd to make $134.08 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 3.50%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -22.97%.
NVCR Dividends
NovoCure Ltd’s next quarterly earnings report is expected to be released on January 08.
NovoCure Ltd (NASDAQ:NVCR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.67% of NovoCure Ltd shares, and 85.89% of them are in the hands of institutional investors. The stock currently has a share float of 87.34%. NovoCure Ltd stock is held by 332 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2023, it held 14.91% of the shares, which is about 15.96 million shares worth $249.5 million.
Vanguard Group Inc, with 9.11% or 9.76 million shares worth $152.53 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Fidelity Growth Company Fund and Smallcap World Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 4.95 million shares worth $77.41 million, making up 4.62% of all outstanding shares. On the other hand, Smallcap World Fund held roughly 4.01 million shares worth around $62.75 million, which represents about 3.75% of the total shares outstanding.
