FY2024 Earnings Forecast for Nevro Issued By William Blair

Nevro Corp. (NYSE:NVRO) – Analysts at William Blair increased their FY2024 earnings estimates for Nevro in a report issued on Tuesday, November 12th. William Blair analyst B. Vazquez now expects that the medical equipment provider will post earnings of ($2.59) per share for the year, up from their previous forecast of ($2.90). The consensus estimate for Nevro’s current full-year earnings is ($2.46) 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.

A number of other research firms have also weighed in on NVRO. Wells Fargo & Company lowered Nevro from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Piper Sandler cut their price objective on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday. Canaccord Genuity Group lowered their target price on shares of Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.10.

Nevro Price Performance

Shares of NYSE:NVRO opened at $4.52 on Thursday. Nevro has a twelve month low of $3.95 and a twelve month high of $22.64. The stock’s 50 day moving average is $5.18 and its 200-day moving average is $7.39. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $169.36 million, a price-to-earnings ratio of -2.39 and a beta of 0.93.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same quarter in the previous year, the company earned ($0.65) EPS. Nevro’s quarterly revenue was down 7.0% compared to the same quarter last year.

Institutional Investors Weigh In On Nevro

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the last quarter. Intech Investment Management LLC bought a new position in Nevro during the 3rd quarter valued at approximately $69,000. SG Americas Securities LLC bought a new position in Nevro during the 3rd quarter valued at approximately $71,000. Quantbot Technologies LP lifted its holdings in Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after buying an additional 8,300 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Nevro Company Profile

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.