During the last session, NovoCure Ltd (NASDAQ:NVCR)’s traded shares were 0.66 million, with the beta value of the company hitting 0.69. At the end of the trading day, the stock’s price was $17.73, reflecting an intraday gain of 3.74% or $0.64. The 52-week high for the NVCR share is $24.74, that puts it down -39.54 from that peak though still a striking 36.32% gain since the share price plummeted to a 52-week low of $11.29. The company’s market capitalization is $1.92B, and the average intraday trading volume over the past 10 days was 0.8 million shares, and the average trade volume was 1.03 million shares over the past three months.
NovoCure Ltd (NVCR) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 1.86. NVCR has a Sell rating from 1 analyst(s) out of 5 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.35.
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NovoCure Ltd (NASDAQ:NVCR) trade information
NovoCure Ltd (NVCR) registered a 3.74% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.74% in intraday trading to $17.73, hitting a weekly high. The stock’s 5-day price performance is 10.06%, and it has moved by 8.31% in 30 days. Based on these gigs, the overall price performance for the year is 48.74%. The short interest in NovoCure Ltd (NASDAQ:NVCR) is 5.96 million shares and it means that shorts have 4.79 day(s) to cover.
The consensus price target of analysts on Wall Street is $36, which implies an increase of 50.75% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.5 and $200 respectively. As a result, NVCR is trading at a discount of -1028.03% off the target high and 18.22% off the low.
NovoCure Ltd (NVCR) estimates and forecasts
Statistics show that NovoCure Ltd has outperformed its competitors in share price, compared to the industry in which it operates. NovoCure Ltd (NVCR) shares have gone down -23.41% during the last six months, with a year-to-date growth rate more than the industry average at 32.82% against 17.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 21.22% this quarter and then drop -0.69% in the quarter after that. In the rating firms’ projections, revenue will increase 17.20% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 153.05M as predicted by 7 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to 154.99M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 133.78M and 138.5M respectively. In this case, analysts expect current quarter sales to grow by 14.40% and then jump by 11.91% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -22.97%. While earnings are projected to return 32.97% in 2024.
NVCR Dividends
NovoCure Ltd is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
NovoCure Ltd (NASDAQ:NVCR)’s Major holders
NovoCure Ltd insiders own 9.26% of total outstanding shares while institutional holders control 86.64%, with the float percentage being 95.48%. FMR LLC is the largest shareholder of the company, while 321.0 institutions own stock in it. As of 2024-06-30, the company held over 16.14 million shares (or 15.0482% of all shares), a total value of $276.51 million in shares.
The next largest institutional holding, with 12.13 million shares, is of BLACKROCK INC.’s that is approximately 11.3106% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $207.83 million.
Also, the Mutual Funds coming in first place with the largest holdings of NovoCure Ltd (NVCR) shares are Fidelity Growth Company Fund and Smallcap World Fund . Data provided on Sep 30, 2024 indicates that Fidelity Growth Company Fund owns about 5.3 shares. This amounts to just over 4.90 percent of the company’s overall shares, with a $93.95 million market value. The same data shows that the other fund manager holds slightly less at 4.52, or about 4.18% of the stock, which is worth about $80.2 million.
