NovoCure Limited (NASDAQ: NVCR) stock fell -0.57% on Tuesday to $80.38 against a previous-day closing price of $80.84. With 0.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.66 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $82.20 whereas the lowest price it dropped to was $80.01. The 52-week range on NVCR shows that it touched its highest point at $120.03 and its lowest point at $56.06 during that stretch. It currently has a 1-year price target of $97.71. Beta for the stock currently stands at 0.77.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVCR was down-trending over the past week, with a drop of -0.32%, but this was up by 27.28% over a month. Three-month performance dropped to -1.99% while six-month performance rose 3.73%. The stock gained 7.60% in the past year, while it has gained 9.58% so far this year. A look at the trailing 12-month EPS for NVCR yields -1.34 with Next year EPS estimates of -2.01. For the next quarter, that number is -0.48. This implies an EPS growth rate of -56.70% for this year and -4.70% for next year.
Float and Shares Shorts:
At present, 105.67 million NVCR shares are outstanding with a float of 103.79 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.73 million, which was 7.27% higher than short shares on Mar 30, 2023. In addition to Mr. William F. Doyle as the firm’s Exec. Chairman, Mr. Asaf Danziger serves as its Pres, CEO & Director.
Through their ownership of 81.01% of NVCR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.62% of NVCR, in contrast to 35.04% held by mutual funds. Shares owned by individuals account for 20.71%. As the largest shareholder in NVCR with 14.91% of the stake, Fidelity Management & Research Co holds 15,724,113 shares worth 15,724,113. A second-largest stockholder of NVCR, Capital Research & Management Co, holds 12,849,519 shares, controlling over 12.19% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NVCR, holding 9,333,523 shares or 8.85% stake. With a 6.91% stake in NVCR, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 7,288,727 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 4.38% of NVCR stock, is the second-largest Mutual Fund holder. It holds 4,614,728 shares valued at 304.11 million. American Funds New Perspective Fu holds 3.64% of the stake in NVCR, owning 3,833,079 shares worth 252.6 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NVCR reported revenue of $140.87M and operating income of -$21.13M. The EBITDA in the recently reported quarter was -$18.47M and diluted EPS was -$0.23.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVCR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVCR analysts setting a high price target of $115.00 and a low target of $38.00, the average target price over the next 12 months is $76.29. Based on these targets, NVCR could surge 43.07% to reach the target high and fall by -52.72% to reach the target low. Reaching the average price target will result in a decline of -5.09% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NVCR stock several times over the past three months with 15 Buys and 26 Sells. In these transactions, 281,569 shares were bought while 85,983 shares were sold. The number of buy transactions has increased to 44 while that of sell transactions has risen to 81 over the past year. The total number of shares bought during that period was 560,339 while 418,963 shares were sold.