Nevro (NVRO) Releases Earnings Results, Misses Expectations By $0.07 EPS

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Nevro (NYSE:NVRO) announced its quarterly earnings results on Monday. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.07), Briefing.com reports. Nevro had a negative return on equity of 15.84% and a negative net margin of 10.68%. The firm had revenue of $95.60 million during the quarter, compared to analysts’ expectations of $94.29 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Nevro updated its FY 2018 guidance to EPS.

Shares of NVRO stock traded down $7.76 during trading on Tuesday, hitting $38.12. The company had a trading volume of 4,108,832 shares, compared to its average volume of 511,343. The company has a current ratio of 8.06, a quick ratio of 6.29 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -30.50 and a beta of -0.29. Nevro has a 52 week low of $35.41 and a 52 week high of $94.34.

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Nevro in the third quarter worth approximately $2,245,000. Thornburg Investment Management Inc. increased its position in shares of Nevro by 15.6% in the third quarter. Thornburg Investment Management Inc. now owns 206,052 shares of the medical equipment provider’s stock worth $11,745,000 after purchasing an additional 27,765 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Nevro by 221.9% in the third quarter. Gabelli Funds LLC now owns 145,500 shares of the medical equipment provider’s stock worth $8,294,000 after purchasing an additional 100,298 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Nevro by 224.0% in the third quarter. Gamco Investors INC. ET AL now owns 16,200 shares of the medical equipment provider’s stock worth $923,000 after purchasing an additional 11,200 shares during the last quarter. Finally, EULAV Asset Management increased its position in shares of Nevro by 47.8% in the third quarter. EULAV Asset Management now owns 105,100 shares of the medical equipment provider’s stock worth $5,991,000 after purchasing an additional 34,000 shares during the last quarter.

NVRO has been the topic of a number of recent analyst reports. Goldman Sachs Group downgraded shares of Nevro from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $60.00 to $44.00 in a report on Friday, October 19th. Zacks Investment Research downgraded shares of Nevro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. BMO Capital Markets decreased their price objective on shares of Nevro from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, August 6th. Morgan Stanley decreased their price objective on shares of Nevro from $88.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 17th. Finally, Bank of America decreased their price objective on shares of Nevro from $102.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Nevro has a consensus rating of “Hold” and a consensus price target of $69.50.

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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.

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Earnings History for Nevro (NYSE:NVRO)

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