Oppenheimer Equities Analysts Cut Earnings Estimates for Nevro Corp. (NYSE:NVRO)

Nevro Corp. (NYSE:NVRO) – Equities researchers at Oppenheimer decreased their FY2021 earnings per share (EPS) estimates for Nevro in a report released on Monday, January 10th. Oppenheimer analyst S. Kalia now anticipates that the medical equipment provider will earn ($3.24) per share for the year, down from their previous estimate of ($3.19). Oppenheimer also issued estimates for Nevro’s Q4 2021 earnings at ($0.88) EPS.

NVRO has been the topic of several other research reports. Truist Securities dropped their price objective on shares of Nevro from $105.00 to $95.00 and set a “hold” rating on the stock in a research note on Tuesday, December 21st. Truist Financial lowered shares of Nevro to a “hold” rating and set a $104.00 price objective on the stock. in a research note on Tuesday, November 9th. Canaccord Genuity Group dropped their price objective on shares of Nevro from $118.00 to $97.00 and set a “hold” rating on the stock in a research note on Wednesday. SVB Leerink reissued a “buy” rating and set a $128.00 price objective on shares of Nevro in a research note on Friday, November 19th. Finally, Wells Fargo & Company raised shares of Nevro from an “equal weight” rating to an “overweight” rating and set a $116.00 price objective on the stock in a research note on Monday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $117.00.

Shares of NVRO opened at $92.06 on Thursday. The firm’s 50-day moving average price is $88.88 and its 200-day moving average price is $116.62. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -29.51 and a beta of 1.04. The company has a current ratio of 7.20, a quick ratio of 5.97 and a debt-to-equity ratio of 0.47. Nevro has a 1-year low of $78.36 and a 1-year high of $184.85.

Nevro (NYSE:NVRO) last issued its earnings results on Sunday, November 7th. The medical equipment provider reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.01. The company had revenue of $93.21 million for the quarter, compared to analysts’ expectations of $91.59 million. Nevro had a negative net margin of 27.51% and a negative return on equity of 24.68%. The firm’s revenue was down 14.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS.

A number of hedge funds have recently made changes to their positions in NVRO. Nisa Investment Advisors LLC increased its holdings in Nevro by 50.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 450 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in Nevro during the second quarter valued at approximately $170,000. BDO Wealth Advisors LLC purchased a new stake in Nevro during the second quarter valued at approximately $172,000. CIBC Asset Management Inc purchased a new stake in Nevro during the second quarter valued at approximately $212,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Nevro during the second quarter valued at approximately $232,000.

In related news, Director Kevin C. Oboyle acquired 2,400 shares of the firm’s stock in a transaction dated Tuesday, December 14th. The stock was purchased at an average cost of $83.78 per share, with a total value of $201,072.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Kashif Rashid acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, November 11th. The shares were bought at an average cost of $101.05 per share, with a total value of $202,100.00. The disclosure for this purchase can be found here. Insiders have bought 24,400 shares of company stock valued at $2,109,772 over the last three months. 2.60% of the stock is owned by corporate insiders.

Nevro Company Profile

Nevro Corp. engages in the provision of medical devices. The firm focuses on providing products that improve the quality of life of patients suffering from debilitating chronic pain. It develops and commercializes senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

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Earnings History and Estimates for Nevro (NYSE:NVRO)

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