William Blair Weighs in on Nevro Corp.'s Q2 2024 Earnings (NYSE:NVRO)

Nevro Corp. (NYSE:NVRO - Free Report) - Analysts at William Blair lowered their Q2 2024 EPS estimates for shares of Nevro in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst B. Vazquez now forecasts that the medical equipment provider will post earnings of ($0.78) per share for the quarter, down from their prior estimate of ($0.67). The consensus estimate for Nevro's current full-year earnings is ($2.54) per share. William Blair also issued estimates for Nevro's Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($2.55) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.65) EPS and FY2025 earnings at ($2.63) EPS.

Nevro (NYSE:NVRO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.70) EPS for the quarter, beating analysts' consensus estimates of ($1.02) by $0.32. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The firm had revenue of $101.90 million for the quarter, compared to analysts' expectations of $97.90 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year.

A number of other brokerages have also recently issued reports on NVRO. Canaccord Genuity Group lowered their target price on shares of Nevro from $17.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on shares of Nevro from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Monday, April 15th. Mizuho decreased their price target on shares of Nevro from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, April 11th. Piper Sandler dropped their price objective on Nevro from $15.00 to $12.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, Oppenheimer lowered Nevro from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.00.

Nevro Stock Performance

NYSE NVRO traded down $0.72 during trading on Friday, hitting $9.79. 675,267 shares of the company's stock traded hands, compared to its average volume of 507,245. The stock has a market capitalization of $359.11 million, a price-to-earnings ratio of -4.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.94 and a current ratio of 6.37. The business has a 50 day moving average of $13.04 and a 200-day moving average of $16.19. Nevro has a 12-month low of $9.76 and a 12-month high of $28.89.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NVRO. Armistice Capital LLC raised its position in Nevro by 46.7% in the 3rd quarter. Armistice Capital LLC now owns 3,456,000 shares of the medical equipment provider's stock worth $66,424,000 after purchasing an additional 1,100,000 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Nevro by 69.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider's stock valued at $22,554,000 after acquiring an additional 431,136 shares during the last quarter. UBS Group AG boosted its holdings in Nevro by 19,354.5% during the 3rd quarter. UBS Group AG now owns 903,272 shares of the medical equipment provider's stock valued at $17,361,000 after acquiring an additional 898,629 shares during the period. Principal Financial Group Inc. grew its position in Nevro by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 720,529 shares of the medical equipment provider's stock worth $15,506,000 after acquiring an additional 3,086 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Nevro by 380.1% in the 4th quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider's stock worth $9,278,000 after purchasing an additional 341,343 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.