On 09 Jan 2020, Nevro Corp. (NYSE: NVRO) stock observed trading -2.26% off 52-week high price. On the other end, the stock has been noted 207.32% away from low price over the last 52-weeks. The stock disclosed a move of 9.98% away from 50 day moving average and 48.01% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.08% off 20-day moving average.
Nevro Corp. (NVRO) recently stated financial results for the third quarter ended September 30, 2019.
Revenue for the third quarter of 2019 was $100.2M, a 5% increase contrast to $95.6M during the previous year period. U.S. revenue for the third quarter of 2019 was $84.2M, a 6% increase contrast to $79.6M in the previous year period. The year-over-year increase in U.S. revenue was primarily driven by SCS procedure growth which was partially offset by the impact of the Company’s before reported decision to alter its practice regarding certain high-volume product orders. International revenue was $16.0M contrast to $16.0M in the previous year period. While flat on an as-stated basis, this represents a 5% increase on a constant currency basis.
“Our strong third quarter 2019 financial results demonstrate our continued improvement in commercial focus and execution across the organization. In the U.S., we saw an 18% year-over-year increase in both patient trial procedures and permanent implant procedures,” stated D. Keith Grossman, Chairman, CEO and President. “Yesterday we reported the commercial launch of our groundbreaking Senza Omnia system, the only SCS system that offers HF10 therapy in addition to all other SCS frequencies, as well as frequency pairing with HF10. We’re excited by the early consumer feedback we’ve received, and we believe this new product introduction, together with our ongoing operational initiatives, positions us for continued growth in 2020 and beyond.”
Gross profit for the third quarter of 2019 was $69.9M, a 4% increase contrast to $67.2M in the previous year period. Gross margin was 69.8% in the third quarter of 2019 contrast to 70.3% in the previous year period.
Full Year 2019 Financial Guidance
Following the Company’s third quarter 2019 financial results, Nevro management is increasing its financial guidance for 2019 worldwide revenue from $368-$374M to $383-$386M. Gross margin is predictable to be in the 68-70% range as a percentage of revenue.
The USA based company Nevro Corp. moved with change of -1.08% to $118.01 with the total traded volume of 491362 shares in recent session versus to an average volume of 404.61K. NVRO’s shares are at 54.36% for the quarter and driving a 181.98% return over the course of the past year and is now at 0.40% since this point in 2018.