Nevro laying off 63 employees; revenue to beat analyst estimates

Nevro Corp.’s stock
NVRO,
-2.51%
rose by 0.3% in premarket trades on Tuesday after the Redwood City, Calif.-based medical device maker said it would reduce its work force by 5% or 63 people. The company also expects stronger-than-expected fourth-quarter revenue of about $116 million, ahead of the FactSet consensus estimate of $109.2 million. The company said its revenue “exceeded our expectations.”