Wall Street brokerages forecast that Nevro (NYSE:NVRO) will announce sales of $96.51 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Nevro’s earnings. The highest sales estimate is $98.75 million and the lowest is $92.30 million. Nevro reported sales of $78.02 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.7%. The company is scheduled to report its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Nevro will report full-year sales of $403.31 million for the current financial year, with estimates ranging from $400.00 million to $405.13 million. For the next year, analysts anticipate that the firm will post sales of $475.50 million per share, with estimates ranging from $459.23 million to $484.70 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Nevro.
Nevro (NYSE:NVRO) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Nevro had a negative return on equity of 16.32% and a negative net margin of 11.53%. The company had revenue of $97.96 million for the quarter, compared to the consensus estimate of $96.87 million. During the same quarter in the prior year, the company earned ($0.34) EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis.
A number of brokerages have recently issued reports on NVRO. JMP Securities reiterated an “overweight” rating and set a $105.00 price objective (down previously from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Northland Securities cut Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Wells Fargo cut Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Zacks Investment Research upgraded Nevro from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Goldman Sachs began coverage on Nevro in a research note on Wednesday, April 4th. They set a “neutral” rating and a $83.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $98.78.
In related news, Director Wilfred E. Jaeger sold 10,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $80.48, for a total value of $804,800.00. Following the sale, the director now owns 1,518 shares in the company, valued at approximately $122,168.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wilfred E. Jaeger sold 14,458 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $83.28, for a total value of $1,204,062.24. Following the completion of the sale, the director now owns 1,518 shares in the company, valued at approximately $126,419.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,116 shares of company stock worth $19,446,802. 6.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Hershey Trust Co. acquired a new position in Nevro in the 4th quarter valued at $119,000. Next Century Growth Investors LLC acquired a new position in Nevro in the 1st quarter valued at $138,000. Public Employees Retirement Association of Colorado acquired a new position in Nevro in the 4th quarter valued at $160,000. Victory Capital Management Inc. grew its holdings in Nevro by 2,245.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,345 shares of the medical equipment provider’s stock valued at $203,000 after buying an additional 2,245 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Nevro in the 1st quarter valued at $208,000.
Shares of Nevro traded down $1.20, reaching $73.07, on Friday, Marketbeat reports. 863,849 shares of the company were exchanged, compared to its average volume of 695,528. Nevro has a one year low of $65.00 and a one year high of $94.34. The stock has a market cap of $2.23 billion, a P/E ratio of -58.46 and a beta of -0.52. The company has a quick ratio of 6.17, a current ratio of 7.99 and a debt-to-equity ratio of 0.61.
Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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