Analysts Anticipate Nevro Corp. (NVRO) Will Post Quarterly Sales of $79.51 Million
Equities research analysts expect Nevro Corp. (NYSE:NVRO) to report sales of $79.51 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Nevro Corp.’s earnings. The highest sales estimate is $83.73 million and the lowest is $74.30 million. Nevro Corp. posted sales of $60.92 million in the same quarter last year, which suggests a positive year over year growth rate of 30.5%. The firm is expected to issue its next 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 year, with estimates ranging from $314.01 million to $325.00 million. For the next financial 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 calculations are an average based on a survey of sell-side research analysts that cover Nevro Corp..
Nevro Corp. (NYSE:NVRO) last announced its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.11). The firm had revenue of $78.02 million for the quarter, compared to analyst estimates of $77.75 million. Nevro Corp. had a negative return on equity of 16.25% and a negative net margin of 14.33%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) EPS.
Several equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Nevro Corp. from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $120.00 price objective on shares of Nevro Corp. in a research note on Wednesday, July 5th. Northland Securities reissued a “buy” rating and set a $96.00 price objective on shares of Nevro Corp. in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Finally, BidaskClub downgraded shares of Nevro Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Nevro Corp. has a consensus rating of “Hold” and an average target price of $101.25.
Shares of Nevro Corp. (NVRO) opened at 87.01 on Monday. The stock’s 50 day moving average is $85.46 and its 200-day moving average is $83.96. The firm’s market cap is $2.56 billion. Nevro Corp. has a one year low of $65.82 and a one year high of $106.93.
In other news, CFO Andrew H. Galligan sold 7,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $82.31, for a total value of $576,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilfred E. Jaeger sold 25,255 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $82.40, for a total transaction of $2,081,012.00. The disclosure for this sale can be found here. Insiders have sold 280,907 shares of company stock valued at $23,745,065 in the last ninety days. 12.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position 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 worth $181,000 after acquiring an additional 358 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 worth $182,000 after acquiring an additional 1,055 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Nevro Corp. in the second quarter worth $190,000. US Bancorp DE increased its position 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 worth $194,000 after acquiring an additional 2,099 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC acquired a new stake in shares of Nevro Corp. in the second quarter worth $205,000.
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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