Novocure (NASDAQ:NVCR) Announces Quarterly Earnings Results
Novocure (NASDAQ:NVCR) announced its quarterly earnings data on Thursday. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01, MarketWatch Earnings reports. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $105.96 million. Novocure had a return on equity of 4.39% and a net margin of 2.34%. Novocure’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.
Novocure stock traded up $7.12 during midday trading on Thursday, hitting $75.12. 81,302 shares of the stock were exchanged, compared to its average volume of 705,066. Novocure has a 52-week low of $53.40 and a 52-week high of $98.84. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 842.37 and a beta of 1.54. The business’s 50-day moving average price is $62.73 and its 200-day moving average price is $71.06. The company has a quick ratio of 5.22, a current ratio of 5.49 and a debt-to-equity ratio of 0.67.
In other news, insider Ely Benaim sold 1,611 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $63.73, for a total value of $102,669.03. Following the completion of the sale, the insider now owns 16,822 shares of the company’s stock, valued at approximately $1,072,066.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pritesh Shah sold 1,184 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.08, for a total transaction of $71,134.72. Following the sale, the insider now owns 103,026 shares of the company’s stock, valued at $6,189,802.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,480 shares of company stock worth $7,607,812. Insiders own 5.07% of the company’s stock.
Novocure Company Profile
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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