Nevro Corp (NYSE:NVRO) Expected to Post Quarterly Sales of $38.09 Million

Brokerages forecast that Nevro Corp (NYSE:NVRO) will post $38.09 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Nevro’s earnings, with the lowest sales estimate coming in at $19.30 million and the highest estimate coming in at $73.75 million. Nevro posted sales of $93.57 million in the same quarter last year, which suggests a negative year-over-year growth rate of 59.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Nevro will report full year sales of $313.80 million for the current financial year, with estimates ranging from $284.50 million to $365.47 million. For the next fiscal year, analysts anticipate that the company will report sales of $449.86 million, with estimates ranging from $422.84 million to $480.07 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Nevro.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Tuesday, May 5th. The medical equipment provider reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.21. The firm had revenue of $87.47 million during the quarter, compared to the consensus estimate of $86.70 million. Nevro had a negative return on equity of 40.67% and a negative net margin of 21.36%. Nevro’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.45) earnings per share.

A number of brokerages recently commented on NVRO. Wells Fargo & Co reduced their price target on Nevro from $158.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Canaccord Genuity reduced their price target on Nevro from $153.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Morgan Stanley increased their price target on Nevro from $135.00 to $145.00 in a report on Thursday, June 18th. SunTrust Banks restated a “buy” rating and set a $135.00 price objective on shares of Nevro in a research note on Thursday, June 4th. Finally, Citigroup upped their price objective on Nevro from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nevro currently has an average rating of “Buy” and an average target price of $124.15.

In other news, Director Shawn Mccormick sold 1,020 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $126.50, for a total transaction of $129,030.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Atria Investments LLC raised its position in shares of Nevro by 2.0% during the 4th quarter. Atria Investments LLC now owns 4,010 shares of the medical equipment provider’s stock worth $471,000 after purchasing an additional 79 shares during the period. Picton Mahoney Asset Management grew its holdings in Nevro by 0.7% in the 1st quarter. Picton Mahoney Asset Management now owns 14,700 shares of the medical equipment provider’s stock worth $1,470,000 after buying an additional 100 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Nevro by 0.9% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,712 shares of the medical equipment provider’s stock worth $1,071,000 after buying an additional 100 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Nevro by 0.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 33,792 shares of the medical equipment provider’s stock worth $3,972,000 after buying an additional 125 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Nevro by 0.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,518 shares of the medical equipment provider’s stock worth $1,452,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

NVRO traded up $1.37 on Thursday, reaching $119.47. The company’s stock had a trading volume of 504,577 shares, compared to its average volume of 495,589. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -44.08 and a beta of 0.91. Nevro has a 1 year low of $60.51 and a 1 year high of $148.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 6.79 and a quick ratio of 5.26. The business’s 50 day moving average is $123.69 and its 200 day moving average is $118.86.

Nevro Company Profile

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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Earnings History and Estimates for Nevro (NYSE:NVRO)

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