FY2016 Earnings Forecast for Nevro Corp Issued By B. Riley (NVRO)
Nevro Corp (NASDAQ:NVRO) – Investment analysts at B. Riley raised their FY2016 EPS estimates for Nevro Corp in a research note issued on Tuesday. B. Riley analyst G. Chodaczek now forecasts that the brokerage will earn ($0.98) per share for the year, up from their previous forecast of ($1.39). B. Riley has a “Buy” rating and a $102.00 price target on the stock. B. Riley also issued estimates for Nevro Corp’s Q4 2016 earnings at ($0.21) EPS, Q1 2017 earnings at ($0.30) EPS, Q2 2017 earnings at ($0.12) EPS, Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at ($0.44) EPS.
NVRO has been the subject of several other reports. Zacks Investment Research cut Nevro Corp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 18th. William Blair initiated coverage on Nevro Corp in a research report on Tuesday, July 19th. They set an “outperform” rating for the company. JMP Securities lifted their price target on Nevro Corp from $90.00 to $110.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 9th. Piper Jaffray Cos. initiated coverage on Nevro Corp in a report on Friday, July 22nd. They issued an “overweight” rating and a $98.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Nevro Corp from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $100.50.
Shares of Nevro Corp (NASDAQ:NVRO) opened at 86.98 on Thursday. The company’s 50-day moving average price is $95.22 and its 200 day moving average price is $83.91. Nevro Corp has a 12-month low of $47.07 and a 12-month high of $106.93. The stock’s market cap is $2.50 billion.
Nevro Corp (NASDAQ:NVRO) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.26. The company had revenue of $60.92 million for the quarter, compared to analysts’ expectations of $58.05 million. During the same quarter in the previous year, the company posted ($0.70) EPS. The business’s quarterly revenue was up 295.6% on a year-over-year basis.
In other news, CFO Andrew H. Galligan sold 7,500 shares of Nevro Corp stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $97.71, for a total value of $732,825.00. Following the sale, the chief financial officer now directly owns 30,079 shares of the company’s stock, valued at $2,939,019.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilfred E. Jaeger sold 154,840 shares of Nevro Corp stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $97.79, for a total value of $15,141,803.60. The disclosure for this sale can be found here.
Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of Nevro Corp by 0.5% in the second quarter. Franklin Resources Inc. now owns 1,464,818 shares of the company’s stock worth $108,045,000 after buying an additional 7,818 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Nevro Corp by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,462,128 shares of the company’s stock worth $107,847,000 after buying an additional 73,497 shares in the last quarter. Columbus Circle Investors raised its stake in shares of Nevro Corp by 18.1% in the second quarter. Columbus Circle Investors now owns 1,057,128 shares of the company’s stock worth $77,974,000 after buying an additional 162,109 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Nevro Corp by 33.8% in the second quarter. Lord Abbett & CO. LLC now owns 726,817 shares of the company’s stock worth $53,610,000 after buying an additional 183,441 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Nevro Corp by 8.2% in the third quarter. BlackRock Fund Advisors now owns 700,023 shares of the company’s stock worth $73,075,000 after buying an additional 53,254 shares in the last quarter.
About Nevro Corp
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain.
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