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Novacyt shares: insiders are buying. Should I buy too?

first_img Edward Sheldon, CFA | Tuesday, 24th November, 2020 | More on: NCYT Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Novacyt shares: insiders are buying. Should I buy too? Like this one, for example…. Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images Our 6 ‘Best Buys Now’ Shares See all posts by Edward Sheldon, CFA Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “This Stock Could Be Like Buying Amazon in 1997” Shares in Covid-19 testing company Novacyt (LSE: NCYT) have pulled back recently. After rising from 14p at the start of the year to 1,275p in October (a gain of about 9,000%), Novacyt’s share price has fallen back below 800p. Clearly, investors are banking profits on the back of the vaccine news.What I find interesting about this share price pullback is that a number of ‘insiders’ at Novacyt, including CEO Graham Mullis, have seen it as an opportunity to buy shares. This month, five directors have purchased stock. This suggests these insiders – who are likely to have an information advantage over the rest of us – expect the stock to keep rising. Insiders don’t spend their own money on company stock if they believe it’s going to go down.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Should I follow them and buy Novacyt shares myself? Let’s take a look at the investment case.Novacyt: can the share price rebound?Novacyt posted a R&D update last week that was quite encouraging. The company said that, in the short term, its focus is to deliver strong organic revenue growth in the core business. It believes demand for its Covid-19 testing products will continue to grow “well into 2021” as testing continues.Meanwhile, in the medium-term, Novacyt said it expects to leverage its reputation, market intelligence, and relationships developed during the pandemic to commercialise new products. It also plans to expand its presence in respiratory and transplant clinical diagnostics, to continue to meet significant unmet market needs. Novacyt added that it continues to invest in developing its IP portfolio to enhance and secure future value. It has submitted 15 new patents covering various aspects of its Covid-19 portfolio recently.Blockbuster revenue growthTurning to the financials, Novacyt is likely to post some blockbuster numbers this year. In the first half of FY 2020, sales were up 900% on the same period last year, to €72.4m. The company delivered EBITDA of €49.4m for the period, versus €153,000 the year before.Looking ahead, Novacyt advised that revenue for the second half of the year is expected to be greater than the first half. It expects full-year revenues to exceed €150m and EBITDA to top €100m. And it believes this rate of financial performance will extend into the first half of 2021.My view on Novacyt sharesThis all sounds very promising. However, I do have concerns over how sustainable the company’s revenues and profits are now that multiple coronavirus vaccines have been developed.Covid-19 testing will no doubt be a big theme next year. It could be a theme for several years. But looking further out, to say 2025, I’m not so sure. This adds uncertainty to the investment case for me.Personally, I prefer to invest in companies set to enjoy powerful growth for decades, not just years. I like companies benefiting from dominant structural trends, such as the growth of cloud computing and the rise of the gig economy. For this reason, I’m going to leave Novacyt shares alone, for now. All things considered, I think there are better growth stocks to buy.   Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!last_img read more