Nevro (NYSE:NVRO) Posts Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Nevro (NYSE:NVRO) posted its earnings results on Tuesday. The medical equipment provider reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.32, Briefing.com reports. The company had revenue of $101.90 million for the quarter, compared to analyst estimates of $97.90 million. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.98) earnings per share.

Nevro Trading Down 10.2 %

NYSE:NVRO traded down $1.18 on Wednesday, reaching $10.35. The stock had a trading volume of 405,026 shares, compared to its average volume of 497,141. The firm’s fifty day moving average is $13.21 and its two-hundred day moving average is $16.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.37 and a quick ratio of 4.94. Nevro has a 12-month low of $10.14 and a 12-month high of $28.89. The company has a market cap of $379.64 million, a price-to-earnings ratio of -4.04 and a beta of 0.96.

Analyst Ratings Changes

NVRO has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Nevro from $15.00 to $12.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Mizuho dropped their price target on Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Citigroup cut their price target on Nevro from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nevro has a consensus rating of “Hold” and an average price target of $20.00.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.