Nevro Corp. (NYSE:NVRO) Expected to Announce Quarterly Sales of $91.31 Million

Wall Street brokerages expect that Nevro Corp. (NYSE:NVRO) will post $91.31 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Nevro’s earnings. The highest sales estimate is $92.70 million and the lowest is $90.40 million. Nevro posted sales of $108.46 million during the same quarter last year, which would suggest a negative year over year growth rate of 15.8%. The firm is expected to issue its next earnings results after the market closes on Monday, November 8th.

According to Zacks, analysts expect that Nevro will report full year sales of $398.95 million for the current year, with estimates ranging from $385.18 million to $415.91 million. For the next fiscal year, analysts forecast that the business will post sales of $467.62 million, with estimates ranging from $447.35 million to $490.74 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Nevro.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, August 4th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Nevro had a negative net margin of 16.68% and a negative return on equity of 18.29%. The business had revenue of $102.30 million for the quarter, compared to analyst estimates of $102.83 million. During the same quarter last year, the business posted ($1.21) EPS. The firm’s revenue for the quarter was up 81.4% on a year-over-year basis.

A number of analysts recently commented on the company. Piper Sandler lowered Nevro from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $200.00 to $125.00 in a research note on Thursday, August 5th. Citigroup lowered Nevro from a “buy” rating to a “neutral” rating and dropped their price target for the company from $198.00 to $125.00 in a research report on Thursday, August 5th. Canaccord Genuity downgraded shares of Nevro from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Thursday, August 5th. TheStreet downgraded shares of Nevro from a “c-” rating to a “d+” rating in a research note on Thursday, August 5th. Finally, Redburn Partners downgraded shares of Nevro from a “buy” rating to a “neutral” rating in a report on Friday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $149.17.

Shares of Nevro stock traded up $2.07 on Monday, hitting $117.45. The company had a trading volume of 4,493 shares, compared to its average volume of 474,873. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.37 and a current ratio of 7.53. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -59.58 and a beta of 1.04. The stock has a 50 day moving average of $117.61 and a 200-day moving average of $141.60. Nevro has a 1 year low of $99.54 and a 1 year high of $188.14.

In other news, CEO D Keith Grossman purchased 7,000 shares of the firm’s stock in a transaction dated Friday, August 13th. The shares were purchased at an average price of $105.07 per share, with a total value of $735,490.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Several hedge funds have recently modified their holdings of NVRO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nevro by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,694,704 shares of the medical equipment provider’s stock valued at $654,911,000 after acquiring an additional 666,384 shares in the last quarter. BlackRock Inc. increased its holdings in Nevro by 3.1% during the 2nd quarter. BlackRock Inc. now owns 3,967,669 shares of the medical equipment provider’s stock worth $657,800,000 after purchasing an additional 119,909 shares in the last quarter. Vanguard Group Inc. boosted its position in Nevro by 1.4% during the second quarter. Vanguard Group Inc. now owns 3,349,111 shares of the medical equipment provider’s stock worth $555,249,000 after purchasing an additional 45,700 shares during the period. Fred Alger Management LLC grew its holdings in shares of Nevro by 2.3% during the 1st quarter. Fred Alger Management LLC now owns 2,186,002 shares of the medical equipment provider’s stock valued at $304,947,000 after purchasing an additional 49,390 shares during the last quarter. Finally, Jackson Square Partners LLC grew its position in Nevro by 24.8% in the 2nd quarter. Jackson Square Partners LLC now owns 1,479,149 shares of the medical equipment provider’s stock valued at $245,228,000 after purchasing an additional 293,514 shares during the period.

Nevro Company Profile

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Earnings History and Estimates for Nevro (NYSE:NVRO)

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