Wells Fargo Downgrades Nevro Corp (NVRO) to Equal Weight
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Go back to Wells Fargo Downgrades Nevro Corp (NVRO) to Equal Weight
August 5, 2021 9:52 AM EDT
Shares of Nevro Corp. (NYSE: NVRO) are down roughly 25% after the company reported lower-than-expected Q2 sales and lower Q3 guidance.
Nevro recorded a loss of $0.62 per share to beat the analysts expectations for a loss of $0.71 per share. However, revenues came in at $102.3 million to miss on the consensus of $104.5 million.
"The recovery of procedural volumes in the pain market generally and the SCS market specifically has been slower than we anticipated, impacting not only second quarter revenues, but in the case of lower trial procedures, revenue in future months as well," said... More
August 5, 2021 7:35 AM EDT
Morgan Stanley analyst David Lewis lowered the price target on Nevro Corp (NYSE: NVRO) to $150.00 (from $199.00) while maintaining an Overweight rating.
The analyst commented, "The guide down was a meaningful departure from expectations, yet we view the shift in outlook reflective of market... More
