Nevro Corp. (NVRO) Expected to Post Quarterly Sales of $79.51 Million
Equities research analysts expect Nevro Corp. (NYSE:NVRO) to post $79.51 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Nevro Corp.’s earnings, with estimates ranging from $74.30 million to $83.73 million. Nevro Corp. reported sales of $60.92 million during the same quarter last year, which indicates a positive year over year growth rate of 30.5%. The firm is expected to report its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Nevro Corp. will report full-year sales of $79.51 million for the current financial year, with estimates ranging from $314.01 million to $325.00 million. For the next year, analysts expect that the business will report sales of $405.98 million per share, with estimates ranging from $374.70 million to $428.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Nevro Corp..
Nevro Corp. (NYSE:NVRO) last announced its earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.11. Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The business had revenue of $78.02 million during the quarter, compared to analyst estimates of $77.75 million. During the same quarter last year, the business posted ($0.31) earnings per share. The business’s quarterly revenue was up 40.8% compared to the same quarter last year.
A number of equities analysts have recently commented on NVRO shares. B. Riley cut Nevro Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $108.00 to $85.00 in a report on Tuesday, May 9th. Northland Securities reissued a “buy” rating and set a $96.00 price target on shares of Nevro Corp. in a report on Tuesday, May 9th. Zacks Investment Research cut Nevro Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. ValuEngine cut Nevro Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, May 24th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $102.00 price target on shares of Nevro Corp. in a report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $100.57.
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In other news, CFO Andrew H. Galligan sold 7,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $82.31, for a total value of $576,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wilfred E. Jaeger sold 79,657 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $82.74, for a total value of $6,590,820.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,577 shares of company stock valued at $11,696,551. Insiders own 12.10% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. bought a new stake in shares of Nevro Corp. during the first quarter valued at $164,000. Ameritas Investment Partners Inc. boosted its stake in shares of Nevro Corp. by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,432 shares of the medical equipment provider’s stock valued at $181,000 after buying an additional 358 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Nevro Corp. by 118.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock valued at $182,000 after buying an additional 1,055 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Nevro Corp. during the second quarter valued at $190,000. Finally, US Bancorp DE boosted its stake in shares of Nevro Corp. by 412.4% in the second quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 2,099 shares during the last quarter.
Nevro Corp. (NYSE NVRO) opened at 83.74 on Friday. Nevro Corp. has a 12-month low of $65.82 and a 12-month high of $106.93. The company has a 50-day moving average price of $83.40 and a 200 day moving average price of $85.19. The company’s market cap is $2.47 billion.
About Nevro Corp.
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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