What happened Shares of Nevro (NYSE: NVRO), a medical device company with a focus on pain management, are soaring in response to a positive third-quarter earnings report. The company reported earnings and revenue that blew past analyst expectations, and raised guidance for the rest of 2019. As a result, the stock gained 21% on Thursday. So what After the bell on Wednesday, Nevro told investors that third-quarter revenue reached $100.2 million, which was $7.9 million more than the average analyst was expecting. On the bottom line, the consensus estimate for earnings was a loss of $0.84, but the company narrowed its loss to just $0.58 per share. Image source: Getty Images. In the U.S., both trial-run spinal cord stimulation procedures and permanent implant procedures rose by 18%, compared to the previous year. Strong procedure growth allowed Nevro to add some icing to its third-quarter earnings cake by boosting revenue expectations for 2019 to a range between $383 million and $386 million from a previously provided range between $368 million and $374 million. Now what At the moment, Nevro's proprietary high-frequency technology, called HF10, is driving spinal cord stimulation procedure growth because it doesn't cause the persistent buzzing sensation that previous generations of spinal cord stimulators are famous for. Also, HF10 systems don't need to be switched off when patients are sleeping or driving, and they're less likely to cause unexpected shocks in response to unusual movements. Last year, the company was able to prevent Boston Scientific from launching a high-frequency product of its own. This July, a judge slapped an injunction on privately held Stimwave that will prevent its wirelessly powered injectible stimulators from using a high frequency, as well. Earlier this month, Nevro launched the Senza Omnia system for patients who want the best of both worlds. Senza Omnia is the first and only neurostimulator that can deliver all the usual low-frequencies and HF10. Although the company's still losing money, a monopoly on high-frequency stimulation devices could push this high-flying healthcare stock much higher. 10 stocks we like better than NevroWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nevro wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source