Nevro (NYSE:NVRO) Issues Quarterly Earnings Results

by · The Cerbat Gem

Nevro (NYSE:NVRO – Get Free Report) posted its quarterly earnings results on Monday. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $93.09 million. During the same quarter in the previous year, the business earned ($0.65) EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Nevro updated its FY 2024 guidance to EPS.

Nevro Stock Down 4.9 %

Nevro stock traded down $0.26 during midday trading on Tuesday, reaching $5.06. The company’s stock had a trading volume of 2,054,372 shares, compared to its average volume of 560,150. Nevro has a fifty-two week low of $4.38 and a fifty-two week high of $22.64. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The company has a market cap of $188.64 million, a P/E ratio of -2.55 and a beta of 0.93. The business has a 50-day simple moving average of $5.24 and a 200-day simple moving average of $7.48.

Analyst Ratings Changes

NVRO has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Robert W. Baird increased their target price on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group cut their price target on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Nevro has a consensus rating of “Hold” and a consensus target price of $9.10.

Read Our Latest Stock Analysis on NVRO

Nevro Company Profile

(Get Free Report)

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.

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