We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nevro (NVRO) Earnings and Revenues Beat Estimates in Q1
Read MoreHide Full Article
Nevro Corp (NVRO - Free Report) reported first-quarter 2020 loss of 78 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.03. The company had incurred a loss of $1.45 in the year-ago quarter.
The company posted revenues of $87.5 million, which surpassed the Zacks Consensus Estimate by 0.9%. The figure also rose 6.6% year over year.
Quarter Highlights
In the quarter under review, international revenues were $12.2 million, down 26% year over year and 23% at constant currency.This was owing to the impact of COVID-19-related government restrictions on elective procedures implemented in Europe and Australia during the second half of the first quarter.
U.S. revenues for the quarter totaled $75.3 million, up 14% year over year. Per management, revenues gained from 7% year-over-year growth in U.S. trials and 12% increase in permanent implant.
Gross profit totaled $60.5 million, up 13.8% year over year. Gross margin was 69.2%, up 445 basis points.
Total operating expenses fell 12.4% year over year to $83.6 million. Research and development expenses totaled $12.2 million, down 13.6%.
Sales, general and administrative expenses fell 12.2% to $71.4 million.
Loss from operations was $23.1 million, narrower than the year-ago quarter’s loss of $42.3 million.
Guidance
Due to the economic uncertainties resulting from COVID-19, Nevro withdrew its annual guidance for 2020 on Apr 1.
Summary
Nevro exited the first quarter on a strong note. The company’s domestic revenues improved on a year-over-year basis. Also, demand for implants contributed to the solid quarterly show. The commercial launch of the Senza Omnia SCS System continues to buoy optimism. Expansion in gross margin is encouraging.
On the flip side, decline in international revenues during the quarter raises concern.
Aphria reported third-quarter fiscal 2020 adjusted EPS of 2 cents, comparing favorably with the Zacks Consensus Estimate of a loss of 4 cents. Net revenues of $64.4 million outpaced the consensus estimate by 14.6%. The company carries a Zacks Rank #2 (Buy) at present.
Biogen currently carries a Zacks Rank #2. It reported first-quarter 2020 adjusted EPS of $9.14, surpassing the Zacks Consensus Estimate by 18.1%. Revenues of $3.53 billion outpaced the consensus mark by 3.2%.
Eli Lilly delivered first-quarter 2020 EPS of $1.75, outpacing the Zacks Consensus Estimate by 12.9%. Revenues of $145.3 million surpassed the consensus estimate by 6.3%. The company currently sports a Zacks Rank #1.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020.
Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Nevro (NVRO) Earnings and Revenues Beat Estimates in Q1
Nevro Corp (NVRO - Free Report) reported first-quarter 2020 loss of 78 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.03. The company had incurred a loss of $1.45 in the year-ago quarter.
The company posted revenues of $87.5 million, which surpassed the Zacks Consensus Estimate by 0.9%. The figure also rose 6.6% year over year.
Quarter Highlights
In the quarter under review, international revenues were $12.2 million, down 26% year over year and 23% at constant currency.This was owing to the impact of COVID-19-related government restrictions on elective procedures implemented in Europe and Australia during the second half of the first quarter.
U.S. revenues for the quarter totaled $75.3 million, up 14% year over year. Per management, revenues gained from 7% year-over-year growth in U.S. trials and 12% increase in permanent implant.
Nevro Corp Price, Consensus and EPS Surprise
Nevro Corp price-consensus-eps-surprise-chart | Nevro Corp Quote
Margins
Gross profit totaled $60.5 million, up 13.8% year over year. Gross margin was 69.2%, up 445 basis points.
Total operating expenses fell 12.4% year over year to $83.6 million. Research and development expenses totaled $12.2 million, down 13.6%.
Sales, general and administrative expenses fell 12.2% to $71.4 million.
Loss from operations was $23.1 million, narrower than the year-ago quarter’s loss of $42.3 million.
Guidance
Due to the economic uncertainties resulting from COVID-19, Nevro withdrew its annual guidance for 2020 on Apr 1.
Summary
Nevro exited the first quarter on a strong note. The company’s domestic revenues improved on a year-over-year basis. Also, demand for implants contributed to the solid quarterly show. The commercial launch of the Senza Omnia SCS System continues to buoy optimism. Expansion in gross margin is encouraging.
On the flip side, decline in international revenues during the quarter raises concern.
Zacks Rank and Key Picks
Nevro currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Aphria Inc. , Biogen Inc. (BIIB - Free Report) and Eli Lilly and Company (LLY - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Aphria reported third-quarter fiscal 2020 adjusted EPS of 2 cents, comparing favorably with the Zacks Consensus Estimate of a loss of 4 cents. Net revenues of $64.4 million outpaced the consensus estimate by 14.6%. The company carries a Zacks Rank #2 (Buy) at present.
Biogen currently carries a Zacks Rank #2. It reported first-quarter 2020 adjusted EPS of $9.14, surpassing the Zacks Consensus Estimate by 18.1%. Revenues of $3.53 billion outpaced the consensus mark by 3.2%.
Eli Lilly delivered first-quarter 2020 EPS of $1.75, outpacing the Zacks Consensus Estimate by 12.9%. Revenues of $145.3 million surpassed the consensus estimate by 6.3%. The company currently sports a Zacks Rank #1.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020.
Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>