Analysts predict that Nevro Corp (NYSE:NVRO) will report $93.65 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Nevro’s earnings, with the lowest sales estimate coming in at $90.70 million and the highest estimate coming in at $97.60 million. Nevro reported sales of $95.63 million during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The firm is expected to announce its next earnings results on Monday, November 4th.
On average, analysts expect that Nevro will report full year sales of $374.22 million for the current fiscal year, with estimates ranging from $370.80 million to $381.82 million. For the next year, analysts anticipate that the business will report sales of $411.93 million, with estimates ranging from $405.60 million to $417.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Nevro.
Nevro (NYSE:NVRO) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.02). Nevro had a negative return on equity of 41.07% and a negative net margin of 24.51%. The company had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $88.40 million. During the same period last year, the firm posted ($0.35) EPS. Nevro’s quarterly revenue was down 2.6% compared to the same quarter last year.
Several research firms have recently commented on NVRO. Canaccord Genuity boosted their target price on shares of Nevro from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Bank of America boosted their target price on shares of Nevro from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Zacks Investment Research raised shares of Nevro from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a report on Tuesday. ValuEngine raised shares of Nevro from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Co lowered their target price on shares of Nevro from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.91.
In other Nevro news, Director Kevin C. Oboyle purchased 1,675 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $60.00 per share, with a total value of $100,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth H. Weatherman purchased 2,460 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $60.99 per share, for a total transaction of $150,035.40. The disclosure for this purchase can be found here. 7.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in NVRO. Invesco Ltd. raised its stake in shares of Nevro by 316.2% in the second quarter. Invesco Ltd. now owns 1,970,969 shares of the medical equipment provider’s stock valued at $127,778,000 after acquiring an additional 1,497,455 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Nevro by 91.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,078,635 shares of the medical equipment provider’s stock valued at $199,588,000 after acquiring an additional 1,470,807 shares during the period. Norges Bank purchased a new stake in shares of Nevro in the fourth quarter valued at $36,675,000. Perceptive Advisors LLC raised its stake in shares of Nevro by 172.9% in the second quarter. Perceptive Advisors LLC now owns 1,137,765 shares of the medical equipment provider’s stock valued at $73,761,000 after acquiring an additional 720,816 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Nevro in the second quarter valued at $26,818,000.
Shares of NVRO stock traded down $0.03 during mid-day trading on Friday, hitting $80.76. The company had a trading volume of 338,900 shares, compared to its average volume of 519,016. Nevro has a 52-week low of $34.75 and a 52-week high of $83.57. The stock’s 50 day moving average price is $66.23 and its 200-day moving average price is $59.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 6.05 and a quick ratio of 4.87. The company has a market capitalization of $2.56 billion, a P/E ratio of -49.24 and a beta of 0.29.
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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