The SMID Point

Roundup | Prepared for Philip Hu The SMID Point Friday, 09 August 2024 Company | Industry Company Nevro Corp (NVRO.N) - Upgrading to Neutral: Enthusiasm at a Trough, Guidance Seems Reasonable but Uncertainty Is High With the 2Q24 print (link), we are upgrading NVRO to Neutral from Sell. While the quarter itself was fairly benign, the full-year revenue guidance cut to $400- $405M from $435-$445M was unexpected, sending shares down 44% post print. With shares now down 73% YTD and trading at <0.5x NTM revenue, ...