Nevro Corp (NVRO) Expected to Post Earnings of -$0.17 Per Share

Wall Street brokerages predict that Nevro Corp (NYSE:NVRO) will announce earnings per share of ($0.17) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Nevro’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.36). Nevro reported earnings per share of ($0.15) during the same quarter last year, which suggests a negative year over year growth rate of 13.3%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, February 28th.

On average, analysts expect that Nevro will report full year earnings of ($1.49) per share for the current year, with EPS estimates ranging from ($1.68) to ($1.30). For the next financial year, analysts forecast that the business will report earnings of ($0.64) per share, with EPS estimates ranging from ($1.22) to $0.02. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Nevro.

NVRO has been the subject of several recent analyst reports. Goldman Sachs Group lowered Nevro from a “neutral” rating to a “sell” rating and dropped their target price for the company from $60.00 to $44.00 in a research report on Friday, October 19th. Morgan Stanley lowered Nevro from an “equal” rating to a “weight” rating and dropped their target price for the company from $65.00 to $43.00 in a research report on Tuesday, November 6th. JPMorgan Chase & Co. lowered Nevro from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $45.00 in a research report on Tuesday, November 6th. Bank of America lowered Nevro from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 7th. Finally, Zacks Investment Research upgraded Nevro from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, January 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Shares of NYSE:NVRO opened at $47.51 on Wednesday. Nevro has a 1 year low of $34.75 and a 1 year high of $94.34. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -38.01 and a beta of 0.18. The company has a quick ratio of 6.31, a current ratio of 8.05 and a debt-to-equity ratio of 0.62.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Nevro by 1.9% in the fourth quarter. BlackRock Inc. now owns 2,765,396 shares of the medical equipment provider’s stock valued at $107,545,000 after purchasing an additional 51,070 shares during the period. California Public Employees Retirement System purchased a new stake in Nevro during the fourth quarter worth $1,622,000. Canada Pension Plan Investment Board lifted its holdings in Nevro by 148.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 160,200 shares of the medical equipment provider’s stock worth $6,230,000 after buying an additional 95,700 shares during the period. TD Asset Management Inc. lifted its holdings in Nevro by 37.0% during the fourth quarter. TD Asset Management Inc. now owns 33,385 shares of the medical equipment provider’s stock worth $1,298,000 after buying an additional 9,022 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Nevro by 3.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,679 shares of the medical equipment provider’s stock worth $610,000 after buying an additional 525 shares during the period.

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.

Recommended Story: Bull Market

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.

Leave a Reply