NovoCure Limited (NASDAQ: NVCR) stock fell -1.63% on Friday to $19.30 against a previous-day closing price of $19.62. With 2.83 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.75 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $19.65 whereas the lowest price it dropped to was $19.06. The 52-week range on NVCR shows that it touched its highest point at $120.03 and its lowest point at $18.03 during that stretch. It currently has a 1-year price target of $58.71. Beta for the stock currently stands at 0.62.
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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 -3.64%, but this was down by -38.24% over a month. Three-month performance dropped to -56.04% while six-month performance fell -70.05%. The stock lost -78.08% in the past year, while it has lost -73.69% so far this year. A look at the trailing 12-month EPS for NVCR yields -1.65 with Next year EPS estimates of -5.38. For the next quarter, that number is -0.53. This implies an EPS growth rate of -56.70% for this year and -155.70% for next year.
Float and Shares Shorts:
At present, 106.29 million NVCR shares are outstanding with a float of 105.32 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.21 million, which was 8.64% higher than short shares on Jul 30, 2023. In addition to Mr. William F. Doyle as the firm’s Exec. Chairman, Mr. Asaf Danziger serves as its Pres, CEO & Director.
Institutional Ownership:
Other institutions hold 58.88% of NVCR, in contrast to 34.68% held by mutual funds. Shares owned by individuals account for 26.77%. As the largest shareholder in NVCR with 14.88% of the stake, Fidelity Management & Research Co holds 15,859,255 shares worth 15,859,255. A second-largest stockholder of NVCR, Capital Research & Management Co, holds 11,390,545 shares, controlling over 10.68% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NVCR, holding 9,443,102 shares or 8.86% stake. With a 7.06% stake in NVCR, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 7,525,252 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 4,668,727 shares valued at 102.99 million. American Funds Small Cap World Fu holds 3.54% of the stake in NVCR, owning 3,770,803 shares worth 83.18 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 Jun 29, 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.
Analysts Ratings:
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 $49.00 and a low target of $23.00, the average target price over the next 12 months is $35.17. Based on these targets, NVCR could surge 153.89% to reach the target high and rise by 19.17% to reach the target low. Reaching the average price target will result in a growth of 82.23% 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 7 Buys and 1 Sells. In these transactions, 2,417 shares were bought while 1,144 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 50 over the past year. The total number of shares bought during that period was 542,785 while 366,395 shares were sold.