Nevro (NYSE:NVRO) Issues Quarterly Earnings Results, Beats Expectations By $0.40 EPS

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

Nevro Stock Down 4.9 %

NVRO stock traded down $0.26 on Tuesday, reaching $5.06. 2,054,372 shares of the company traded hands, compared to its average volume of 560,150. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The firm has a fifty day simple moving average of $5.24 and a 200-day simple moving average of $7.48. Nevro has a one year low of $4.38 and a one year high of $22.64. The company has a market cap of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NVRO shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a report on Tuesday. Canaccord Genuity Group cut their target price on Nevro from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird raised their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.10.

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.