Analysts Anticipate Nevro Corp (NYSE:NVRO) Will Announce Quarterly Sales of $38.09 Million

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Analysts forecast that Nevro Corp (NYSE:NVRO) will announce sales of $38.09 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Nevro’s earnings, with the highest sales estimate coming in at $73.75 million and the lowest estimate coming in at $19.30 million. Nevro posted sales of $93.57 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 59.3%. The firm is expected to issue its next earnings report on Thursday, August 13th.

On average, 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 financial year, analysts expect that the firm 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 an average based on a survey of sell-side research analysts that follow Nevro.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, May 5th. The medical equipment provider reported ($0.78) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.99) by $0.21. The firm had revenue of $87.47 million for the quarter, compared to analyst estimates 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 firm earned ($1.45) earnings per share.

A number of equities research analysts recently commented on the company. UBS Group upgraded Nevro from a “sell” rating to a “neutral” rating and upped their target price for the company from $100.00 to $132.00 in a research report on Monday, June 8th. Morgan Stanley upped their target price on Nevro from $135.00 to $145.00 in a research report on Thursday, June 18th. Wells Fargo & Co decreased 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. ValuEngine raised Nevro from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Finally, Citigroup boosted their price target on Nevro from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $124.15.

In other news, Director Shawn Mccormick sold 1,020 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Nevro by 9.0% in the 1st quarter. BlackRock Inc. now owns 2,974,055 shares of the medical equipment provider’s stock valued at $297,347,000 after purchasing an additional 246,232 shares during the last quarter. Fred Alger Management LLC raised its stake in Nevro by 3.5% in the 1st quarter. Fred Alger Management LLC now owns 1,980,996 shares of the medical equipment provider’s stock valued at $198,060,000 after purchasing an additional 67,038 shares during the last quarter. Perceptive Advisors LLC raised its stake in Nevro by 43.0% in the 1st quarter. Perceptive Advisors LLC now owns 1,092,068 shares of the medical equipment provider’s stock valued at $107,449,000 after purchasing an additional 328,182 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Nevro by 30.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 775,016 shares of the medical equipment provider’s stock valued at $77,486,000 after purchasing an additional 181,064 shares during the last quarter. Finally, Partner Fund Management L.P. raised its stake in Nevro by 45.6% in the 4th quarter. Partner Fund Management L.P. now owns 577,163 shares of the medical equipment provider’s stock valued at $67,840,000 after purchasing an additional 180,893 shares during the last quarter. 97.43% of the stock is owned by hedge funds and other institutional investors.

NYSE NVRO traded up $1.37 during trading hours on Thursday, reaching $119.47. The stock had a trading volume of 504,577 shares, compared to its average volume of 495,589. The stock has a fifty day moving average of $123.69 and a 200 day moving average of $118.86. The stock has a market cap of $4.03 billion, a P/E ratio of -44.08 and a beta of 0.91. Nevro has a 52-week low of $60.51 and a 52-week high of $148.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.26 and a current ratio of 6.79.

About Nevro

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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