Zacks: Analysts Expect Nevro Corp. (NYSE:NVRO) Will Announce Quarterly Sales of $104.45 Million

Brokerages predict that Nevro Corp. (NYSE:NVRO – Get Rating) will report $104.45 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Nevro’s earnings, with estimates ranging from $103.40 million to $105.10 million. Nevro posted sales of $102.33 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Nevro will report full year sales of $423.43 million for the current year, with estimates ranging from $421.44 million to $426.58 million. For the next fiscal year, analysts anticipate that the business will report sales of $481.70 million, with estimates ranging from $470.49 million to $493.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Nevro.

Nevro (NYSE:NVRO – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The medical equipment provider reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.13. The company had revenue of $87.40 million for the quarter, compared to analyst estimates of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. Nevro’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.85) earnings per share.

A number of research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Nevro from $65.00 to $64.00 in a research note on Thursday, May 5th. Wolfe Research assumed coverage on shares of Nevro in a research note on Tuesday, April 5th. They issued an “underperform” rating and a $64.00 price objective on the stock. Canaccord Genuity Group dropped their price objective on shares of Nevro from $97.00 to $72.00 and set a “hold” rating on the stock in a research note on Friday, February 25th. SVB Leerink dropped their price objective on shares of Nevro from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 24th. Finally, Wells Fargo & Company dropped their price target on shares of Nevro from $116.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.77.

NYSE NVRO opened at $44.44 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.68 and a current ratio of 6.97. The firm has a market cap of $1.57 billion, a PE ratio of -11.39 and a beta of 1.07. Nevro has a one year low of $41.74 and a one year high of $182.45. The firm’s fifty day moving average is $64.81 and its two-hundred day moving average is $75.96.

In other Nevro news, CEO D Keith Grossman purchased 3,200 shares of Nevro stock in a transaction on Tuesday, March 8th. The shares were bought at an average price of $63.59 per share, with a total value of $203,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kashif Rashid purchased 1,500 shares of Nevro stock in a transaction on Friday, March 11th. The stock was acquired at an average cost of $64.04 per share, for a total transaction of $96,060.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 6,950 shares of company stock worth $399,673. 2.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in shares of Nevro by 397.6% in the first quarter. BNP Paribas Arbitrage SA now owns 37,811 shares of the medical equipment provider’s stock valued at $2,735,000 after purchasing an additional 30,213 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Nevro in the first quarter valued at about $289,000. Point72 Hong Kong Ltd purchased a new stake in shares of Nevro in the first quarter valued at about $170,000. Polar Asset Management Partners Inc. purchased a new position in shares of Nevro during the first quarter valued at approximately $934,000. Finally, Eaton Vance Management lifted its stake in shares of Nevro by 45.7% during the first quarter. Eaton Vance Management now owns 36,202 shares of the medical equipment provider’s stock valued at $2,619,000 after buying an additional 11,361 shares during the period.

Nevro Company Profile (Get Rating)

Nevro Corp., a medical device company, provides products for 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, as well as Senza II and Senza Omnia systems.

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