Nevro (NYSE:NVRO) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS

Nevro (NYSE:NVRO) released its earnings results on Monday. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.40, Briefing.com reports. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.65) EPS. Nevro updated its FY 2024 guidance to EPS.

Nevro Stock Down 4.9 %

Nevro stock traded down $0.26 during midday trading on Tuesday, reaching $5.06. The company’s stock had a trading volume of 2,054,372 shares, compared to its average volume of 560,150. The stock’s 50-day simple moving average is $5.24 and its 200-day simple moving average is $7.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The stock has a market capitalization of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler cut their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research report on Tuesday. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley cut their price objective on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.10.

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.