Nevro (NYSE:NVRO) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS

Nevro (NYSE:NVRO) posted its quarterly earnings data on Monday. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40, Briefing.com reports. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The company had revenue of $96.60 million during the quarter, compared to analyst estimates of $93.09 million. During the same period in the previous year, the business earned ($0.65) EPS. Nevro’s quarterly revenue was down 7.0% on a year-over-year basis. Nevro updated its FY 2024 guidance to EPS.

Nevro Trading Down 12.1 %

NVRO traded down $0.61 during trading hours on Wednesday, reaching $4.45. The company’s stock had a trading volume of 1,378,602 shares, compared to its average volume of 563,892. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The stock has a market cap of $165.91 million, a PE ratio of -2.35 and a beta of 0.93. The business’s 50-day moving average is $5.23 and its 200-day moving average is $7.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVRO. Piper Sandler cut their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday. Truist Financial lowered their target price on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Robert W. Baird boosted their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $13.00 to $5.50 in a report on Wednesday, August 7th. Finally, Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat, Nevro has an average rating of “Hold” and a consensus target price of $9.10.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.