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Wedbush has issued an earnings estimate for NovoCure Limited (NASDAQ:NVCR) for fiscal year 2022.

Wedbush has issued an earnings estimate for NovoCure Limited (NASDAQ:NVCR) for fiscal year 2022.

Wedbush decreased its forecast for the earnings per share (EPS) that NovoCure Limited (NVCR: NASDAQ) will generate during the fiscal year 2022 in a research report published on Tuesday, January 10. The information was distributed to clients. The Wedbush analyst D. Nierengarten predicted that the medical equipment supplier would earn $0.80 per share in 2018, an increase from earlier projections that indicated the company would earn $0.78 per share. The current consensus earnings prediction for NovoCure’s fiscal year is $0.84% per share. These predictions are compiled using a variety of different data sources. Wedbush anticipated that NovoCure’s operations would result in a profit of $0.27 for the fourth quarter of 2022. In terms of earnings per share, the second and third quarters of 2023 will each come in with a loss of $0.21. For the final three months of 2023, the earnings per share came in at $0.21. For the upcoming fiscal year 2023, the earnings per share are projected to be $0.85. During the financial year 2024, the company posted a loss of $0.68 in earnings per share. For the fiscal years 2025 and 2026, the earnings per share amounted to $0.34 and a loss of $0.41.

The most recent earnings report for NovoCure, which is publicly traded and whose stock is denoted by the symbol NVCR on the NASDAQ, was released on October 27. The manufacturer of medical supplies and devices reported earnings per share for the quarter of $0.25, which was $0.05 higher than the consensus estimate of $0.30 among financial analysts. However, NovoCure’s net margin and return on equity were negative, with the former being negative by 15.05% and the latter by 18.85%, respectively. According to the projections of several different analysts, the anticipated revenue for the next quarter could be anywhere from $134.83 million to $131 million.

The NASDAQ: NVCR stock began trading on Thursday for $96.70 per share. The price of NovoCure stock hit a low of $56.39 during the past year, while it reached a high of $120.03 during the same period. The simple moving average for this company’s past 200 trading days is $77.22, and the simple moving average for the last fifty trading days is $77.24. At the moment, the company has a PE ratio that is equal to -125.58, a beta value that is equal to 0.78, and a market capitalization that is equal to $10.15 billion. There is 7.81 times as much debt as equity, 7.62 times as many current assets, and 7.81 times as many liquid assets. The ratio of debt to equity is 1.27.

A variety of research professionals from a variety of different fields have also provided recent reports about the company. Wells Fargo & Company downgraded NovoCure from “overweight” to “equal weight” on Friday, January 6, while simultaneously increasing their price target for the stock from $89.00 to $107.00. The “hold” rating that StockNews.com had previously assigned to NovoCure was downgraded to a “sell” rating in a research note released on Tuesday. This modification was done to the stock of the company. JPMorgan Chase & Co. increased their price target on NovoCure from $80.00 to $99.00 and gave the stock a “neutral” rating in a research report released on Friday, January 6. Finally, HC Wainwright recommended a “buy” rating for the company’s stock in a research report released on Thursday, January 5.

Additionally, the firm increased its price objective for NovoCure from $100.00 to $140.00. The report’s subject matter was the stock of the company. Truist Financial downgraded NovoCure from a “buy” rating to a “hold” rating in a research report published on Friday, October 28. Additionally, they lowered their price objective on the stock from $105.00 to $102.00. Both of these moves were made public. Six analysts believe investors should buy the stock, three think investors should keep their current position, and two believe investors should sell the stock. According to Bloomberg.com, the cache is currently rated “Hold,” and analysts anticipate that the price will reach $108.88 before it reaches that rating. They also believe the rating will only change once the stock goes to that price.

In other news, the company’s Chief Executive Officer, Asaf Danziger, sold 212,500 shares on January 5. This transaction took place on the day that the information was released. The total amount obtained from the sale of the shares was $23,107,250.00, which comes out to $108.74 for each share sold. As a direct consequence of the deal, the Chief Executive Officer now has a direct holding of 13,583 business shares, the total value of which is 1,477,015.42 dollars. One can access a document that provides additional information on the transaction by going to the Securities and Exchange Commission (SEC) website. According to other news regarding the company, on January 5, a person with knowledge of the business named Uri Weinberg sold 8,143 shares of NovoCure stock. The total value of the shares that were sold was $945,728.02, and the average price that was received for each of them was $116.14. After the completion of the transaction, the company insider is now the owner of 43,286 shares in the company. The total value of these shares is 5,027,236.04 dollars. The Securities and Exchange Commission was given legal documents about the transaction, which were subsequently uploaded to the SEC website after being provided to the SEC. In addition, Asaf Danziger, the company’s Chief Executive Officer, sold 212,500 shares of the company’s stock on January 5. A total of 23,107,250.00 dollars worth of the company’s stock was traded for $108.74 per share, resulting in a transaction volume of this amount. As a direct consequence of the transaction, the Chief Executive Officer now has ownership of 13,583 business shares that have a total value of 1,477,015.42 dollars. Disclosures that are related to the sale might be found in this section of the website. The company’s management and employees collectively own 6.22% of the company’s shares of stock.

A few different hedge funds have recently made adjustments to their NVCR. US Bancorp DE increased the amount of NovoCure stock owned by 18.9% during the first three months of 2018. Following the acquisition of an additional 454 shares during the preceding quarter, US Bancorp DE now has a total of 2,857 shares of the company, which is a medical equipment provider. These shares have a combined value of $237,000, and US Bancorp DE owns them. Panagora Asset Management Inc. increased the amount of NovoCure stock owned by 280.8 percent during the first three months of 2018. After purchasing an additional 9,366 shares during the most recent quarter, Panagora Asset Management Inc. now has 12,702 shares of the medical equipment provider’s stock, valued at $1,052,000. During the most recent quarter, these shares were acquired. Panagora Asset Management, Inc. During the first three months of 2018, BlackRock Inc. increased the amount of NovoCure stock owned by 0.6%, bringing its total ownership to 100%. BlackRock Inc. now has 6,732,513 shares of the company’s stock after purchasing an additional 43,157 shares during the most recent quarter. This gives the company a market capitalization of $557,787,000. During the first three months of 2018, Dimensional Fund Advisors LP made a 2.0% increase in NovoCure shares in its portfolio. After purchasing an additional 2,534 shares during the most recent quarter, Dimensional Fund Advisors LP now owns 127,433 shares of the medical equipment provider’s stock, which is $10,559,000. These shares were acquired as a result of the most recent purchase. These shares were obtained due to the company’s participation in the direct stock purchase plan offered by the medical equipment provider. During the first three months of 2018, Blair William & Co., IL, purchased a new position in NovoCure for a total value of 572 thousand dollars. Institutional investors such as hedge funds and other types hold 78.42% of the company’s shares.

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