Nevro (NYSE:NVRO) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Nevro (NYSE:NVRO) from a hold rating to a sell rating in a research report sent to investors on Thursday.

A number of other equities research analysts have also recently commented on NVRO. Wells Fargo & Company cut Nevro from an equal weight rating to an underweight rating and reduced their price objective for the company from $13.00 to $5.50 in a research note on Wednesday. Mizuho reduced their price objective on Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research note on Thursday, April 11th. JMP Securities cut Nevro from an outperform rating to a market perform rating in a research note on Wednesday. Truist Financial reduced their price objective on Nevro from $10.00 to $5.50 and set a hold rating for the company in a research note on Thursday. Finally, Royal Bank of Canada reduced their price objective on Nevro from $16.00 to $7.00 and set a sector perform rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $10.63.

Nevro Trading Up 6.2 %

NVRO stock traded up $0.35 during mid-day trading on Thursday, reaching $6.02. The company’s stock had a trading volume of 1,729,642 shares, compared to its average volume of 567,455. The company has a market cap of $221.11 million, a price-to-earnings ratio of -2.64 and a beta of 0.91. The business’s 50 day moving average price is $8.88 and its 200 day moving average price is $12.05. The company has a current ratio of 7.38, a quick ratio of 5.57 and a debt-to-equity ratio of 0.77. Nevro has a 12 month low of $4.38 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The business had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.69) earnings per share. On average, equities research analysts predict that Nevro will post -2.14 EPS for the current year.

Institutional Trading of Nevro

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after buying an additional 6,565 shares during the period. Assetmark Inc. boosted its holdings in shares of Nevro by 30.4% in the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 730 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 1,430 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Nevro by 45.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,727 shares of the medical equipment provider’s stock worth $444,000 after purchasing an additional 9,586 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 2,836 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.