Nevro Corp (NVRO) Downgraded by ValuEngine to Sell
Nevro Corp (NYSE:NVRO) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Other equities research analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Nevro Corp in a research report on Friday, February 24th. Zacks Investment Research downgraded shares of Nevro Corp from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Northland Securities reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Nevro Corp in a research report on Tuesday, May 9th. Leerink Swann upped their price objective on shares of Nevro Corp from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Canaccord Genuity began coverage on shares of Nevro Corp in a research report on Thursday, March 23rd. They issued a “buy” rating and a $120.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Nevro Corp presently has an average rating of “Buy” and an average price target of $99.82.
Shares of Nevro Corp (NYSE:NVRO) traded up 1.41% during midday trading on Wednesday, reaching $74.19. 636,958 shares of the company traded hands. Nevro Corp has a 12-month low of $66.55 and a 12-month high of $106.93. The firm’s market capitalization is $2.17 billion. The company has a 50-day moving average of $85.54 and a 200 day moving average of $86.16.
Nevro Corp (NYSE:NVRO) last issued its quarterly earnings data on Monday, May 8th. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.24. Nevro Corp had a negative return on equity of 14.57% and a negative net margin of 18.91%. The firm had revenue of $68.40 million during the quarter, compared to the consensus estimate of $68.71 million. During the same period in the previous year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. On average, equities analysts forecast that Nevro Corp will post ($0.99) earnings per share for the current year.
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In related news, Director Michael F. Demane sold 29,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $96.07, for a total transaction of $2,862,886.00. Following the sale, the director now directly owns 501,795 shares in the company, valued at approximately $48,207,445.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Enxing sold 38,500 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $91.01, for a total transaction of $3,503,885.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,480 shares of company stock worth $17,108,593. Corporate insiders own 12.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Nevro Corp during the first quarter worth approximately $164,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Nevro Corp during the fourth quarter worth approximately $177,000. Tower Research Capital LLC TRC boosted its stake in shares of Nevro Corp by 118.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock worth $182,000 after buying an additional 1,055 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Nevro Corp during the first quarter worth approximately $194,000. Finally, SG Americas Securities LLC boosted its stake in shares of Nevro Corp by 32.4% in the first quarter. SG Americas Securities LLC now owns 2,214 shares of the medical equipment provider’s stock worth $207,000 after buying an additional 542 shares during the last quarter.
Nevro Corp Company Profile
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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