Nevro surges after Q3 revenue beats estimates

Nevro

12/11/2024 13:00

** Medical device maker Nevro Corp's  NVRO.N  shares rise
18.6% to $6.31 premarket
    ** On Monday, co posted Q3 revenue of $96.9 mln vs analysts'
est. of $93.1 mln - data compiled by LSEG 
    ** Co reported Q3 loss per share of 41 cents vs est. for
loss of 81 cents per share 
    ** Expects 2024 adj. EBITDA loss of $16 mln to $18 mln,
smaller than earlier forecast for loss of $18 mln to $20 mln
        ** As of last close, stock had fallen ~75% YTD, as NVRO
has struggled with weak demand for some of its products and had
earlier cut its revenue forecast
        ** J.P. Morgan says Nevro's management expects outlook
to improve in 2025, but brokerage views Nevro as "a 'show me'
story" as it tries to reach breakeven
  
    ** Twelve of 16 brokerages rate the stock "hold" and 4
"sell" or lower; median PT is $6.50 - LSEG data
    

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))