Nevro (NYSE:NVRO) Issues Quarterly Earnings Results

Nevro (NYSE:NVRO) issued its quarterly earnings data on Tuesday. The medical equipment provider reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.32, Briefing.com reports. The business had revenue of $101.90 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.98) earnings per share.

Nevro Stock Down 8.8 %

Shares of NVRO stock traded down $1.02 during trading hours on Wednesday, reaching $10.51. 260,509 shares of the company’s stock were exchanged, compared to its average volume of 495,555. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72. The company has a market cap of $385.51 million, a price-to-earnings ratio of -4.10 and a beta of 0.96. Nevro has a fifty-two week low of $10.27 and a fifty-two week high of $28.89. The stock’s 50 day moving average is $13.21 and its 200-day moving average is $16.27.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NVRO shares. Oppenheimer cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 22nd. Mizuho cut their target price on Nevro from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Robert W. Baird decreased their target price on Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company decreased their price target on shares of Nevro from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Piper Sandler dropped their price objective on Nevro from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nevro currently has a consensus rating of “Hold” and a consensus target price of $20.92.

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.