Nevro (NYSE:NVRO) Announces Quarterly Earnings Results

Nevro (NYSE:NVRO) announced its earnings results on Monday. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.40, Briefing.com reports. The business had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.65) EPS. Nevro updated its FY 2024 guidance to EPS.

Nevro Stock Performance

Shares of NYSE NVRO traded down $0.61 during trading on Wednesday, reaching $4.45. 1,378,602 shares of the company traded hands, compared to its average volume of 563,892. The firm’s fifty day simple moving average is $5.23 and its 200 day simple moving average is $7.44. The stock has a market cap of $165.91 million, a P/E ratio of -2.35 and a beta of 0.93. Nevro has a 12-month low of $4.38 and a 12-month high of $22.64. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research report on Tuesday. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Piper Sandler lowered their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.