$88.57 Million in Sales Expected for Nevro Corp (NVRO) This Quarter

Analysts expect Nevro Corp (NYSE:NVRO) to post sales of $88.57 million for the current quarter, according to Zacks. Five analysts have made estimates for Nevro’s earnings, with the lowest sales estimate coming in at $87.00 million and the highest estimate coming in at $91.20 million. Nevro reported sales of $68.44 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.4%. The company is scheduled to announce its next earnings results on Monday, May 14th.

On average, analysts expect that Nevro will report full-year sales of $88.57 million for the current year, with estimates ranging from $403.00 million to $407.60 million. For the next year, analysts forecast that the company will report sales of $480.83 million per share, with estimates ranging from $459.23 million to $502.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Nevro.

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Nevro (NYSE:NVRO) last issued its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nevro had a negative net margin of 11.22% and a negative return on equity of 15.01%. The business had revenue of $97.96 million for the quarter, compared to analysts’ expectations of $96.87 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 38.9% on a year-over-year basis.

Several analysts have commented on NVRO shares. Goldman Sachs started coverage on Nevro in a research note on Wednesday. They set a “neutral” rating and a $83.00 target price on the stock. ValuEngine upgraded Nevro from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. BMO Capital Markets reissued a “buy” rating and set a $100.00 price target on shares of Nevro in a report on Thursday, December 14th. Finally, Zacks Investment Research cut Nevro from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $97.44.

In related news, Director Wilfred E. Jaeger sold 160,542 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $80.77, for a total value of $12,966,977.34. Following the transaction, the director now directly owns 1,518 shares of the company’s stock, valued at approximately $122,608.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew H. Galligan sold 7,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $80.10, for a total value of $560,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 234,116 shares of company stock worth $18,913,822 over the last three months. Insiders own 12.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NVRO. OppenheimerFunds Inc. raised its holdings in Nevro by 50.0% in the 4th quarter. OppenheimerFunds Inc. now owns 900,594 shares of the medical equipment provider’s stock worth $62,177,000 after purchasing an additional 300,064 shares during the period. First Manhattan Co. bought a new position in Nevro in the 4th quarter worth $15,630,000. Jennison Associates LLC raised its holdings in Nevro by 12.6% in the 4th quarter. Jennison Associates LLC now owns 1,282,874 shares of the medical equipment provider’s stock worth $88,570,000 after purchasing an additional 143,962 shares during the period. Point72 Asset Management L.P. raised its holdings in Nevro by 35.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 542,952 shares of the medical equipment provider’s stock worth $49,343,000 after purchasing an additional 141,963 shares during the period. Finally, BlackRock Inc. raised its holdings in Nevro by 5.2% in the 4th quarter. BlackRock Inc. now owns 2,616,753 shares of the medical equipment provider’s stock worth $180,662,000 after purchasing an additional 130,320 shares during the period.

Shares of NVRO opened at $86.52 on Friday. The company has a current ratio of 7.61, a quick ratio of 5.91 and a debt-to-equity ratio of 0.58. Nevro has a 12 month low of $65.00 and a 12 month high of $97.70. The firm has a market cap of $2,646.25, a price-to-earnings ratio of -69.22 and a beta of -0.53.

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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.

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