Nevro Corp (NYSE:NVRO) Expected to Announce Earnings of -$1.03 Per Share

Wall Street brokerages expect that Nevro Corp (NYSE:NVRO) will announce earnings of ($1.03) per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Nevro’s earnings. The highest EPS estimate is ($0.94) and the lowest is ($1.15). Nevro posted earnings of ($0.91) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.2%. The business is expected to announce its next earnings report on Thursday, August 13th.

On average, analysts expect that Nevro will report full year earnings of ($3.86) per share for the current financial year, with EPS estimates ranging from ($4.66) to ($2.28). For the next year, analysts forecast that the business will report earnings of ($2.06) per share, with EPS estimates ranging from ($2.95) to ($1.25). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Nevro.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, May 5th. The medical equipment provider reported ($0.78) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.99) by $0.21. The firm had revenue of $87.47 million during the quarter, compared to the consensus estimate of $86.70 million. Nevro had a negative net margin of 21.36% and a negative return on equity of 40.67%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted ($1.45) earnings per share.

Several research analysts have recently commented on the stock. Wells Fargo & Co lowered their target price on shares of Nevro from $158.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. UBS Group raised shares of Nevro from a “sell” rating to a “neutral” rating and raised their target price for the stock from $100.00 to $132.00 in a report on Monday, June 8th. Citigroup raised their target price on shares of Nevro from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised their target price on shares of Nevro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $135.00 target price on shares of Nevro in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $124.15.

NVRO stock traded up $1.37 during mid-day trading on Tuesday, hitting $119.47. 504,577 shares of the company were exchanged, compared to its average volume of 495,589. The business has a 50 day simple moving average of $123.69 and a 200-day simple moving average of $118.86. The company has a current ratio of 6.79, a quick ratio of 5.26 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.03 billion, a PE ratio of -44.08 and a beta of 0.91. Nevro has a 1-year low of $60.51 and a 1-year high of $148.05.

In related news, Director Shawn Mccormick sold 1,020 shares of Nevro stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $126.50, for a total value of $129,030.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in Nevro by 6.2% in the first quarter. Royal Bank of Canada now owns 13,107 shares of the medical equipment provider’s stock valued at $1,310,000 after buying an additional 769 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Nevro by 76.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 4,723 shares of the medical equipment provider’s stock worth $472,000 after purchasing an additional 2,049 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Nevro by 23.3% during the first quarter. HighTower Advisors LLC now owns 18,788 shares of the medical equipment provider’s stock worth $1,877,000 after purchasing an additional 3,555 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Nevro by 3.5% during the first quarter. Fred Alger Management LLC now owns 1,980,996 shares of the medical equipment provider’s stock worth $198,060,000 after purchasing an additional 67,038 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Nevro during the first quarter worth $300,000. Hedge funds and other institutional investors own 97.43% of the company’s stock.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

Featured Article: Why do commodities matter?

Get a free copy of the Zacks research report on Nevro (NVRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Nevro (NYSE:NVRO)

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.