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

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

Nevro Stock Performance

NYSE:NVRO traded down $0.05 on Thursday, hitting $10.11. The company’s stock had a trading volume of 119,677 shares, compared to its average volume of 500,677. Nevro has a one year low of $10.02 and a one year high of $28.89. The firm has a market capitalization of $370.84 million, a P/E ratio of -3.96 and a beta of 0.96. The stock has a fifty day moving average of $13.12 and a two-hundred day moving average of $16.23. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Nevro from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup lowered their price target on Nevro from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price objective on shares of Nevro from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Monday, April 15th. Piper Sandler reduced their target price on shares of Nevro from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, Mizuho dropped their price target on Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $20.00.

About Nevro

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.