Nevro (NYSE:NVRO) Releases Quarterly Earnings Results, Beats Estimates By $0.40 EPS

Nevro (NYSE:NVRO) issued 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 firm had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period last year, the company earned ($0.65) earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. Nevro updated its FY 2024 guidance to EPS.

Nevro Price Performance

NYSE:NVRO traded down $0.26 during trading hours on Tuesday, reaching $5.06. The stock had a trading volume of 2,054,372 shares, compared to its average volume of 560,150. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The company has a 50 day moving average price of $5.24 and a two-hundred day moving average price of $7.48. The stock has a market capitalization of $188.64 million, a PE ratio of -2.55 and a beta of 0.93.

Wall Street Analysts Forecast Growth

NVRO has been the subject of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Nevro in a report on Tuesday. Morgan Stanley cut their price target on Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. 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 research note on Tuesday. Finally, JPMorgan Chase & Co. cut Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.