Nevro Corp. Forecasted to Post Q3 2024 Earnings of ($0.98) Per Share (NYSE:NVRO)

Nevro Corp. (NYSE:NVRO) – William Blair cut their Q3 2024 earnings per share (EPS) estimates for Nevro in a report issued on Wednesday, August 7th. William Blair analyst B. Vazquez now forecasts that the medical equipment provider will post earnings of ($0.98) per share for the quarter, down from their prior estimate of ($0.70). The consensus estimate for Nevro’s current full-year earnings is ($2.14) per share. William Blair also issued estimates for Nevro’s Q4 2024 earnings at ($0.79) EPS, FY2024 earnings at ($2.90) EPS, Q1 2025 earnings at ($1.01) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.90) EPS, Q4 2025 earnings at ($0.67) EPS and FY2025 earnings at ($3.38) EPS.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The business had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.69) earnings per share.

NVRO has been the topic of a number of other reports. StockNews.com downgraded Nevro from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $5.50 in a research report on Wednesday. JPMorgan Chase & Co. downgraded Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday. Canaccord Genuity Group decreased their target price on Nevro from $17.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Finally, Morgan Stanley decreased their target price on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, Nevro has a consensus rating of “Hold” and a consensus price target of $10.63.

Nevro Trading Up 6.0 %

Nevro stock opened at $6.01 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.57 and a current ratio of 7.38. The business’s 50-day simple moving average is $8.82 and its 200-day simple moving average is $11.96. The firm has a market capitalization of $220.74 million, a PE ratio of -2.62 and a beta of 0.91. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64.

Institutional Investors Weigh In On Nevro

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after acquiring an additional 341,343 shares during the last quarter. Semanteon Capital Management LP bought a new position in shares of Nevro in the fourth quarter valued at approximately $1,122,000. Truist Financial Corp raised its stake in shares of Nevro by 27.3% in the fourth quarter. Truist Financial Corp now owns 38,496 shares of the medical equipment provider’s stock valued at $828,000 after acquiring an additional 8,247 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Nevro by 119.1% in the fourth quarter. Natixis Advisors L.P. now owns 28,294 shares of the medical equipment provider’s stock valued at $608,000 after acquiring an additional 15,380 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Nevro by 29.9% in the fourth quarter. M&T Bank Corp now owns 40,639 shares of the medical equipment provider’s stock valued at $875,000 after acquiring an additional 9,345 shares during the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

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.