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

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

Nevro Stock Performance

NVRO opened at $4.45 on Thursday. The firm has a market cap of $165.91 million, a P/E ratio of -2.35 and a beta of 0.93. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. The business’s fifty day moving average is $5.23 and its 200-day moving average is $7.44.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research note on Tuesday. Canaccord Genuity Group dropped their price target on Nevro from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday. Truist Financial dropped their price target on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, Nevro presently has an average rating of “Hold” and a consensus price target 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.