Brokerages predict that Nevro Corp (NYSE:NVRO) will report ($0.89) earnings per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Nevro’s earnings. The highest EPS estimate is ($0.53) and the lowest is ($1.03). Nevro reported earnings per share of ($0.35) during the same quarter last year, which would indicate a negative year over year growth rate of 154.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, August 8th.
On average, analysts expect that Nevro will report full year earnings of ($3.83) per share for the current year, with EPS estimates ranging from ($4.23) to ($3.00). For the next fiscal year, analysts anticipate that the company will post earnings of ($2.74) per share, with EPS estimates ranging from ($3.64) to ($1.35). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Nevro.
Nevro (NYSE:NVRO) last announced its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported ($1.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.79). The firm had revenue of $82.10 million during the quarter, compared to analysts’ expectations of $87.47 million. Nevro had a negative net margin of 19.79% and a negative return on equity of 31.84%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.59) EPS.
A number of research analysts have weighed in on NVRO shares. Canaccord Genuity decreased their price objective on Cronos Group from C$17.00 to C$16.00 in a report on Friday, May 10th. Wells Fargo & Co decreased their price objective on Nevro from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Morgan Stanley raised their price objective on Wynn Resorts from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. ValuEngine upgraded Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, JMP Securities decreased their price objective on Nevro from $80.00 to $70.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Nevro currently has an average rating of “Hold” and an average target price of $54.91.
NVRO stock traded down $1.60 during midday trading on Tuesday, reaching $61.66. The stock had a trading volume of 204,285 shares, compared to its average volume of 255,228. The firm has a fifty day moving average price of $62.99. The company has a current ratio of 6.30, a quick ratio of 4.87 and a debt-to-equity ratio of 0.83. The stock has a market cap of $1.88 billion, a P/E ratio of -37.60 and a beta of 0.29. Nevro has a 52-week low of $34.75 and a 52-week high of $68.94.
In related news, Director Elizabeth H. Weatherman acquired 2,460 shares of Nevro stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $60.99 per share, for a total transaction of $150,035.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kevin C. Oboyle acquired 1,675 shares of Nevro stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $60.00 per share, for a total transaction of $100,500.00. The disclosure for this purchase can be found here. 7.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NVRO. California Public Employees Retirement System purchased a new stake in Nevro in the 4th quarter valued at about $1,622,000. BlackRock Inc. raised its holdings in Nevro by 1.9% in the 4th quarter. BlackRock Inc. now owns 2,765,396 shares of the medical equipment provider’s stock valued at $107,545,000 after buying an additional 51,070 shares during the period. Advisor Group Inc. raised its holdings in Nevro by 64.5% in the 4th quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 361 shares during the period. Geode Capital Management LLC raised its holdings in Nevro by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 308,995 shares of the medical equipment provider’s stock valued at $12,016,000 after buying an additional 26,356 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Nevro by 86.9% in the 4th quarter. Two Sigma Investments LP now owns 7,474 shares of the medical equipment provider’s stock valued at $291,000 after buying an additional 3,474 shares during the period.
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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