Nevro Corp (NVRO) to Post Q3 2019 Earnings of $0.06 Per Share, Leerink Swann Forecasts

Nevro Corp (NYSE:NVRO) – Research analysts at Leerink Swann lowered their Q3 2019 earnings per share estimates for Nevro in a note issued to investors on Sunday. Leerink Swann analyst D. Antalffy now forecasts that the medical equipment provider will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.13. Leerink Swann currently has a “Outperform” rating and a $110.00 target price on the stock. Leerink Swann also issued estimates for Nevro’s FY2019 earnings at $0.31 EPS.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. The business had revenue of $82.26 million during the quarter, compared to the consensus estimate of $80.50 million. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The firm’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share.

Several other research firms also recently weighed in on NVRO. Zacks Investment Research downgraded shares of Nevro from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Canaccord Genuity decreased their price target on shares of Nevro from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. BidaskClub downgraded shares of Nevro from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Northland Securities reaffirmed a “buy” rating and set a $96.00 price target on shares of Nevro in a research note on Tuesday, November 7th. Finally, TheStreet raised shares of Nevro from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $99.25.

Shares of Nevro (NYSE NVRO) traded down $3.29 during midday trading on Tuesday, reaching $73.72. 221,068 shares of the company’s stock traded hands, compared to its average volume of 449,732. The company has a current ratio of 8.78, a quick ratio of 6.81 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2,283.45, a P/E ratio of -53.11 and a beta of -0.59. Nevro has a twelve month low of $65.00 and a twelve month high of $99.63.

In related news, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $75.11, for a total value of $525,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.10% of the company’s stock.

A number of large investors have recently modified their holdings of NVRO. Prudential Financial Inc. grew its holdings in Nevro by 13.8% in the second quarter. Prudential Financial Inc. now owns 2,878 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 350 shares during the last quarter. BlackRock Inc. grew its holdings in Nevro by 13.5% in the second quarter. BlackRock Inc. now owns 1,787,896 shares of the medical equipment provider’s stock worth $133,073,000 after purchasing an additional 212,656 shares during the last quarter. Amalgamated Bank grew its holdings in Nevro by 20.5% in the second quarter. Amalgamated Bank now owns 3,547 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 603 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Nevro in the second quarter worth $190,000. Finally, New York State Common Retirement Fund grew its holdings in Nevro by 3.0% in the second quarter. New York State Common Retirement Fund now owns 104,495 shares of the medical equipment provider’s stock worth $7,778,000 after purchasing an additional 3,028 shares during the last quarter.

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About Nevro

Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.

Earnings History and Estimates for Nevro (NYSE:NVRO)

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