Nevro Corp. NVRO announced preliminary results for fourth-quarter and full-year 2019 on Jan 14.
Notably, full-year worldwide revenues are expected to total $390.3 million that suggests a rise of 0.8% from 2018 figures. The Zacks Consensus Estimate for the metric is pegged at $385.1 million.
For the fourth quarter, worldwide revenues are projected at $114.4 million, which calls for a rise of 6% from $107.9 million in the year-ago quarter.
The company expects to release fourth-quarter 2019 results in February.
Nevro’s preliminary results have boosted investors’ optimism. Post the preliminary release, shares of this Zacks Rank #3 (Hold) company have climbed 3.5% to $118.27 at close on Jan 15.
Also, in the past three months, the stock has gained 38.5% compared with the industry’s 11.7% growth. The S&P 500 Index is up 9.7% in the same time frame.
U.S. revenues are estimated to total $97.9 million, which indicates an increase of 6.9% from the prior-year quarter’s level. International revenues are projected to be $16.5 million, suggesting a rise of 1.2% from the year-ago quarter’s figure.
Revenues from U.S. trial procedure grew 17% and the same from permanent implant procedure rose 20%.
U.S. revenues are expected to amount to $326 million, which calls for a rise of 1.3% from $321.8 million in 2018. International revenues are projected at $64.3 million, indicating a decline of 1.8% from the year-ago tally.
2020 Worldwide Revenue Outlook
Nevro currently expects full-year worldwide revenues in the range of $435-$440 million.
Nevro is anticipated to have delivered solid fourth-quarter and full-year performances. Notably, the company’s top line is projected to beat the consensus mark for 2019.
An upbeat 2020 worldwide revenue outlook buoys optimism in the stock.
Some better-ranked stocks in the broader medical space are Cerner Corporation CERN, DexCom, Inc. DXCM and HealthEquity, Inc. HQY. While HealthEquity sports a Zacks Rank #1 (Strong Buy), Cerner and DexCom carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cerner’s long-term earnings growth rate is estimated at 13.6%.
DexCom’s fourth-quarter earnings growth rate is projected at 31.5%.
HealthEquity’s long-term earnings growth rate is pegged at 25%.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cerner Corporation (CERN) : Free Stock Analysis Report
Nevro Corp. (NVRO) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
HealthEquity, Inc. (HQY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research