FY2024 Earnings Forecast for Nevro Issued By William Blair

Nevro Corp. (NYSE:NVRO - Free Report) - Research analysts at William Blair raised their FY2024 earnings per share estimates for shares of Nevro in a research note issued to investors on Tuesday, November 12th. William Blair analyst B. Vazquez now anticipates that the medical equipment provider will post earnings per share of ($2.59) for the year, up from their previous estimate of ($2.90). The consensus estimate for Nevro's current full-year earnings is ($2.60) per share. William Blair also issued estimates for Nevro's Q4 2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($0.97) EPS, Q2 2025 earnings at ($0.85) EPS, Q3 2025 earnings at ($0.58) EPS, Q4 2025 earnings at ($0.55) EPS, FY2025 earnings at ($2.85) EPS, Q1 2026 earnings at ($0.78) EPS, Q2 2026 earnings at ($0.59) EPS and Q3 2026 earnings at ($0.63) EPS.

NVRO has been the topic of several other research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $7.00 price target on shares of Nevro in a research note on Tuesday. Truist Financial reduced their price objective on Nevro from $10.00 to $5.50 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on Nevro from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Tuesday. Citigroup reduced their price objective on Nevro from $6.89 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. Finally, Wolfe Research upgraded Nevro from an "underperform" rating to a "peer perform" rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, Nevro has a consensus rating of "Hold" and an average price target of $9.10.

Nevro Price Performance

Shares of NVRO traded down $0.31 during midday trading on Thursday, hitting $4.14. The company's stock had a trading volume of 746,824 shares, compared to its average volume of 564,720. Nevro has a one year low of $4.00 and a one year high of $22.64. The company's fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $7.42. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $154.35 million, a price-to-earnings ratio of -2.14 and a beta of 0.93.

Nevro (NYSE:NVRO - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.35% and a negative net margin of 16.54%. The firm had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same quarter last year, the company earned ($0.65) EPS. The company's revenue was down 7.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVRO. BNP Paribas Financial Markets raised its stake in Nevro by 189.3% during the 1st quarter. BNP Paribas Financial Markets now owns 51,597 shares of the medical equipment provider's stock worth $745,000 after buying an additional 33,760 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Nevro by 45.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider's stock worth $444,000 after purchasing an additional 9,586 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Nevro by 14.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider's stock worth $167,000 after purchasing an additional 1,430 shares in the last quarter. Blair William & Co. IL increased its holdings in Nevro by 35.8% during the 1st quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider's stock worth $753,000 after purchasing an additional 13,750 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Nevro by 48.2% during the 1st quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider's stock worth $1,369,000 after purchasing an additional 30,863 shares in the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.