Nevro Corp (NVRO) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $-0.47. The company posted revenue of $55.40 million in the period, compared to analysts expectations of $44.98 million. The company’s revenue was up 385.5% compared to the same quarter last year.
Many Wall Street Analysts have commented on Nevro Corp. BofA/Merrill Initiated Nevro Corp on Aug 8, 2016 to “Buy”, Price Target of the shares are set at $100.Nevro Corp was Initiated by Piper Jaffray to “Overweight” on Jul 22, 2016. Nevro Corp was Initiated by Wells Fargo to “Outperform” on Jul 12, 2016.
Nevro Corp closed down -1.55 points or -1.89% at $80.53 with 4,00,430 shares getting traded on Friday. Post opening the session at $82.8, the shares hit an intraday low of $80.36 and an intraday high of $83.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 5, 2016, Michael Enxing (VP of Sales) sold 1,500 shares at $82.06 per share price. According to the SEC, on Aug 2, 2016, Michael F Demane (director) sold 13,333 shares at $84.00 per share price. On Aug 2, 2016, Doug Alleavitch (VP, Quality) sold 1,000 shares at $85.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Nevro Corp. is a medical device company. The Company manufactures and markets active implantable medical devices for the treatment of neurological disorders initially focusing on the treatment of chronic pain. The Company developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is the only spinal cord stimulation (SCS) system that delivers its HF10 therapy. The Company’s Senza system creates electrical impulses from two hertz to 10 kilohertz including its HF10 therapy which allows for pain relief without paresthesia. HF10 therapy delivers waveforms at 10 kilohertz pulse rate with a statistically driven and clinically verified programming algorithm. Senza consists of leads a trial stimulator an implantable pulse generator (IPG) surgical tools a clinician laptop programmer a patient remote control and a mobile charger.