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Nevro (NVRO) Posts Weak Preliminary Q4 and 2020 Revenues
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Nevro Corp. (NVRO - Free Report) recently provided an update on its preliminary fourth-quarter 2020 and full-year revenues.
The company is scheduled to release its December-quarter financial results on Feb 24, 2021.
Per the preliminary announcement, final-quarter 2020 worldwide revenues are anticipated to be $109.7 million, indicating a decline from the year-ago quarter’s figure of $114.4 million. Fourth-quarter 2020 U.S. revenues are projected to be $94.6 million, suggesting a fall from the year-ago period’s number of $97.9 million.
The company’s international revenues are anticipated to be $15.1 million, implying a downside from the prior-year quarter’s figure of $16.5 million.
Notably, fourth-quarter U.S. trial procedures are expected to be reduced nearly 8% year over year.
Per the issuance of preliminary results, Nevro's 2020 worldwide revenues are projected to be $362 million, hinting at a decrease from the year-ago quarter’s figure of $390.3 million. Full-year U.S. revenues are projected to be $311.9 million, indicating a drop from the prior-year period’s number of $326 million.
The company anticipates its full-year international revenues to be $50.2 million, implying a decline from the year-ago quarter’s figure of $64.3 million.
Shares Down
Following the announcement of its preliminary results, shares of Nevro dipped 1.1% to $169.15 at the close of the day’s trading session.
Highlights
In the second half of the fourth quarter, higher COVID-related activity left an adverse impact on both trial and permanent implant volumes.
Nonetheless, despite the year-long turbulent period, the company’s market share in the core lower back and leg pain space continued to expand with its top-notch SCS technology, clinical data and enhanced execution. In fact, per management, Nevro has growth prospects post the COVID-19-induced pressure on its business subsides.
Management is optimistic about better growth opportunities with respect to the treatment of Painful Diabetic Neuropathy and Non-Surgical Refractory Back Pain that will bring the company’s HF10 therapy to a number of patients who are unable to get relief with the presently available treatment options.
Price Performance
In the past three months, the stock has gained 11.1% compared with the 6.5% growth of its industry.
Zacks Rank and Key Picks
Nevro currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are McKesson Corporation (MCK - Free Report) , PerkinElmer and IDEXX Laboratories (IDXX - Free Report) . While PerkinElmer sports a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy), presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has a projected long-term earnings growth rate of 6.6%.
PerkinElmer has a projected long-term earnings growth rate of 19.5%.
IDEXX has an estimated long-term earnings growth rate of 15.8%.
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Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Nevro (NVRO) Posts Weak Preliminary Q4 and 2020 Revenues
Nevro Corp. (NVRO - Free Report) recently provided an update on its preliminary fourth-quarter 2020 and full-year revenues.
The company is scheduled to release its December-quarter financial results on Feb 24, 2021.
Per the preliminary announcement, final-quarter 2020 worldwide revenues are anticipated to be $109.7 million, indicating a decline from the year-ago quarter’s figure of $114.4 million. Fourth-quarter 2020 U.S. revenues are projected to be $94.6 million, suggesting a fall from the year-ago period’s number of $97.9 million.
The company’s international revenues are anticipated to be $15.1 million, implying a downside from the prior-year quarter’s figure of $16.5 million.
Notably, fourth-quarter U.S. trial procedures are expected to be reduced nearly 8% year over year.
Per the issuance of preliminary results, Nevro's 2020 worldwide revenues are projected to be $362 million, hinting at a decrease from the year-ago quarter’s figure of $390.3 million. Full-year U.S. revenues are projected to be $311.9 million, indicating a drop from the prior-year period’s number of $326 million.
The company anticipates its full-year international revenues to be $50.2 million, implying a decline from the year-ago quarter’s figure of $64.3 million.
Shares Down
Following the announcement of its preliminary results, shares of Nevro dipped 1.1% to $169.15 at the close of the day’s trading session.
Highlights
In the second half of the fourth quarter, higher COVID-related activity left an adverse impact on both trial and permanent implant volumes.
Nonetheless, despite the year-long turbulent period, the company’s market share in the core lower back and leg pain space continued to expand with its top-notch SCS technology, clinical data and enhanced execution. In fact, per management, Nevro has growth prospects post the COVID-19-induced pressure on its business subsides.
Management is optimistic about better growth opportunities with respect to the treatment of Painful Diabetic Neuropathy and Non-Surgical Refractory Back Pain that will bring the company’s HF10 therapy to a number of patients who are unable to get relief with the presently available treatment options.
Price Performance
In the past three months, the stock has gained 11.1% compared with the 6.5% growth of its industry.
Zacks Rank and Key Picks
Nevro currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are McKesson Corporation (MCK - Free Report) , PerkinElmer and IDEXX Laboratories (IDXX - Free Report) . While PerkinElmer sports a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy), presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has a projected long-term earnings growth rate of 6.6%.
PerkinElmer has a projected long-term earnings growth rate of 19.5%.
IDEXX has an estimated long-term earnings growth rate of 15.8%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>