Nevro (NVRO)

Company Profile

Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in =65% of patients across six peer-reviewed clinical studies. The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro's proprietary HF10® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.

Company profile

Ticker

NVRO

Exchange

NYSE

Website

www.nevro.com

CEO

D.Keith Grossman

Location

California

Fiscal year end

Dec 31

Sector

Manufacturing > Surgical and Medical Instrument Manufacturing

Industry (SIC)

Surgical & Medical Instruments & Apparatus

3M • Baxter International • Boston Scientific • Stryker • Becton, Dickinson And • Teleflex • Resmed • Haemonetics • Hill-Rom • Nuvasive ...

SEC CIK

0001444380

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Nevro Medical Sarl • Nevro Medical Limited • Nevro Medical Pty Ltd. • Nevro Germany GmbH • Nevro Medical, S.R.L. ...

NVRO stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$44.00

Low target

$37.00

High target

$67.00

JP Morgan

Maintains

Neutral

$40.00

3 Nov 22

Latest filings (excl ownership)

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8-K

Nevro Announces Preliminary, Unaudited Fourth Quarter and Full-Year 2022 Revenue and Provides Full-Year 2023 Revenue Guidance

2 Nov 22

Nevro Reports Third Quarter 2022 Financial Results, Narrows Full-Year 2022 Guidance and Raises Revenue Contribution from Painful Diabetic Neuropathy

2 Nov 22

8-K

Departure of Directors or Certain Officers

3 Aug 22

Nevro Reports Second Quarter 2022 Financial Results, Provides Third Quarter 2022 Guidance and Updates Full-Year 2022 Guidance

Submission of Matters to a Vote of Security Holders

31 May 22

Conflict minerals disclosure

4 May 22

Transcripts

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NVRO

Earnings call transcript

2022 Q3

3 Nov 22

NVRO

Earnings call transcript

2022 Q2

7 Aug 22

NVRO

Earnings call transcript

2022 Q1

7 May 22

NVRO

Earnings call transcript

2021 Q4

24 Feb 22

NVRO

Earnings call transcript

2021 Q3

9 Nov 21

NVRO

Earnings call transcript

2021 Q2

5 Aug 21

NVRO

Earnings call transcript

2021 Q1

9 May 21

NVRO

Earnings call transcript

2020 Q4

25 Feb 21

NVRO

Earnings call transcript

2020 Q3

8 Nov 20

NVRO

Earnings call transcript

2020 Q2

6 Aug 20

Latest ownership filings

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ELIZABETH H WEATHERMAN

Jackson Square Partners, LLC

Financial summary

Financial statements Chart NVRO financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	130.84 mm	130.84 mm	130.84 mm	130.84 mm	130.84 mm	130.84 mm
Cash burn (monthly)	(no burn)	(no burn)	(no burn)	585.25 k	(no burn)	(no burn)
Cash used (since last report)	n/a	n/a	n/a	2.39 mm	n/a	n/a
Cash remaining	n/a	n/a	n/a	128.45 mm	n/a	n/a
Runway (months of cash)	n/a	n/a	n/a	219.5	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Nevro earnings reports.

Institutional ownership, Q3 2022

NVRO institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	181	181	–
Opened positions	27	14	+92.9%
Closed positions	27	33	-18.2%
Increased positions	57	85	-32.9%
Reduced positions	59	52	+13.5%

13F shares	Current	Prev Q	Change
Total value	1.91 bn	1.85 bn	+3.6%
Total shares	35.75 mm	36.30 mm	-1.5%
Total puts	325.70 k	241.00 k	+35.1%
Total calls	543.70 k	150.20 k	+262.0%
Total put/call ratio	0.6	1.6	-62.7%

Largest owners	Shares	Value	Change
BLK Blackrock	4.87 mm	$227.01 mm	+0.6%
FMR	4.35 mm	$202.91 mm	+288.0%
Vanguard	3.62 mm	$168.74 mm	+1.7%
JPM JPMorgan Chase & Co.	1.60 mm	$74.48 mm	+16.1%
Alger Associates	1.24 mm	$151.45 mm	0.0%
ArrowMark Colorado	1.15 mm	$53.64 mm	-0.9%
D. E. Shaw & Co	1.10 mm	$190.32 mm	0.0%
IVZ Invesco	1.04 mm	$48.66 mm	+0.1%
Fred Alger Management	933.20 k	$43.49 mm	-24.5%
FHI Federated Hermes	832.93 k	$38.82 mm	-23.0%

Largest transactions	Shares	Bought/sold	Change
FMR	4.35 mm	+3.23 mm	+288.0%
STT State Street	0.00	-810.86 k	EXIT
T. Rowe Price	290.53 k	-728.90 k	-71.5%
BEN Franklin Resources	319.82 k	-656.60 k	-67.2%
T. Rowe Price Investment Management	594.00 k	+594.00 k	NEW
Marshall Wace	186.31 k	-490.78 k	-72.5%
Victory Capital Management	0.00	-473.68 k	EXIT
Redmile	0.00	-405.52 k	EXIT
Artisan Partners Limited Partnership	0.00	-353.70 k	EXIT
Fred Alger Management	933.20 k	-303.09 k	-24.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

NVRO insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
30 Dec 22	Fischer Frank M	Common Stock	Grant	Acquire A	No	No	0	422	0.00	46,817
30 Dec 22	Demane Michael F	Common Stock	Grant	Acquire A	No	No	0	662	0.00	20,001
30 Dec 22	Kosaraju Sridhar	Common Stock	Grant	Acquire A	No	No	0	397	0.00	8,038
30 Dec 22	Weatherman Elizabeth H	Common Stock	Grant	Acquire A	No	No	0	500	0.00	44,377
11 Nov 22	Richard B. Carter	Common Stock	Payment of exercise	Dispose F	No	No	45.91	228	10.47 k	13,614