NVRO - Why Nevro Stock Lagged the Market on Thursday
2024-02-22 18:21:23 ET
Specialty medical device maker Nevro (NYSE: NVRO) didn't make for an inspiring investment on Thursday. Its stock price dipped marginally following the company's release of its fourth-quarter earnings report Wednesday. That contrasted with the S&P 500 index, which gained nearly 2.5%.
For the fourth quarter, Nevro's revenue inched up by 2% year over year to just over $116 million. On the bottom line, it narrowed its GAAP net loss considerably to slightly over $7 million ($0.25 per share), against a more than $17 million deficit in the same quarter a year before.
Both headline figures were notably better than analysts had expected. Collectively, prognosticators following Nevro were modeling for just shy of $112 million on the top line, and a much steeper net loss of $0.49 per share.
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Why Nevro Stock Lagged the Market on Thursday