Nevro Corp. (NYSE:NVRO) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS
Nevro Corp. (NYSE:NVRO) released its quarterly earnings data on Monday. The medical equipment provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.11, Briefing.com reports. Nevro Corp. had a negative net margin of 14.49% and a negative return on equity of 14.50%. The business had revenue of $78.02 million for the quarter, compared to analysts’ expectations of $77.75 million. During the same period last year, the business earned ($0.31) earnings per share. The company’s quarterly revenue was up 40.8% on a year-over-year basis.
Shares of Nevro Corp. (NYSE:NVRO) opened at 82.66 on Tuesday. The firm has a 50 day moving average price of $80.08 and a 200 day moving average price of $85.48. The stock’s market capitalization is $2.42 billion. Nevro Corp. has a one year low of $65.82 and a one year high of $106.93.
In related news, CFO Andrew H. Galligan sold 7,500 shares of Nevro Corp. stock in a transaction on Monday, May 15th. The stock was sold at an average price of $75.30, for a total value of $564,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new stake in Nevro Corp. during the first quarter worth approximately $164,000. Tower Research Capital LLC TRC boosted its stake in Nevro Corp. by 118.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock worth $182,000 after buying an additional 1,055 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Nevro Corp. during the first quarter worth approximately $194,000. US Bancorp DE boosted its stake in Nevro Corp. by 412.4% in the second quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 2,099 shares during the period. Finally, Inspirion Wealth Advisors LLC purchased a new stake in Nevro Corp. during the second quarter worth approximately $205,000.
NVRO has been the topic of several recent analyst reports. B. Riley cut Nevro Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $108.00 to $85.00 in a research report on Tuesday, May 9th. Northland Securities reaffirmed a “buy” rating and set a $96.00 price objective on shares of Nevro Corp. in a research report on Tuesday, May 9th. Zacks Investment Research cut Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. ValuEngine cut Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $102.00 target price on shares of Nevro Corp. in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $103.10.
About Nevro Corp.
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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