Nevro (NVRO) Downgraded by ValuEngine

Nevro (NYSE:NVRO) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other research analysts also recently commented on NVRO. Northland Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 8th. Zacks Investment Research downgraded shares of Nevro from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Canaccord Genuity dropped their price objective on shares of Nevro from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 8th. JMP Securities reiterated an “overweight” rating and set a $105.00 target price (down previously from $120.00) on shares of Nevro in a report on Tuesday, May 8th. Finally, Wells Fargo cut Nevro from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $98.78.

Shares of NYSE NVRO traded up $0.44 on Thursday, reaching $75.33. 5,313 shares of the company traded hands, compared to its average volume of 421,005. Nevro has a fifty-two week low of $76.34 and a fifty-two week high of $78.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.99 and a quick ratio of 6.17. The company has a market cap of $2.35 billion, a P/E ratio of -59.91 and a beta of -0.52.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Nevro had a negative net margin of 11.53% and a negative return on equity of 16.32%. The company had revenue of $97.96 million for the quarter, compared to analyst estimates of $96.87 million. During the same period in the prior year, the company earned ($0.34) EPS. The company’s revenue was up 38.9% compared to the same quarter last year. equities research analysts anticipate that Nevro will post -1.2 EPS for the current year.

In other news, Director Wilfred E. Jaeger sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $80.48, for a total transaction of $804,800.00. Following the completion of the sale, the director now owns 1,518 shares in the company, valued at approximately $122,168.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wilfred E. Jaeger sold 14,458 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $83.28, for a total value of $1,204,062.24. Following the sale, the director now owns 1,518 shares of the company’s stock, valued at approximately $126,419.04. The disclosure for this sale can be found here. Insiders have sold a total of 241,116 shares of company stock valued at $19,446,802 in the last quarter. Company insiders own 6.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Nevro by 73.3% in the 4th quarter. Bank of Montreal Can now owns 26,234 shares of the medical equipment provider’s stock worth $1,811,000 after acquiring an additional 11,095 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Nevro by 16.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 887,402 shares of the medical equipment provider’s stock worth $61,266,000 after acquiring an additional 125,632 shares during the period. First Manhattan Co. purchased a new position in Nevro in the 4th quarter worth approximately $15,630,000. Hershey Trust Co. purchased a new position in Nevro in the 4th quarter worth approximately $119,000. Finally, Peregrine Capital Management LLC boosted its holdings in Nevro by 39.0% in the 4th quarter. Peregrine Capital Management LLC now owns 421,896 shares of the medical equipment provider’s stock worth $29,128,000 after acquiring an additional 118,436 shares during the period.

Nevro Company Profile

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Nevro (NYSE:NVRO)

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