Nevro (NYSE:NVRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Nevro Corp. is a medical device company. It engages in developing and commercializing a neuromodulation platform for the treatment of chronic pain. The Company provides pain relief to the customers suffering from low back pain and types of chronic pains. Nevro has developed and commercialized the Senza (R) spinal cord stimulation (SCS) system for the treatment of chronic pain. Senza, HF10, Nevro and the Nevro logo are trademarks of the company. Nevro Corp. is headquartered in Menlo Park, California. “
NVRO has been the subject of a number of other research reports. ValuEngine downgraded Nevro from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. TheStreet downgraded Nevro from a “c-” rating to a “d+” rating in a research report on Wednesday, June 6th. Morgan Stanley downgraded Nevro from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Monday, July 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Nevro in a research report on Wednesday, July 11th. Finally, Canaccord Genuity dropped their price target on Nevro from $102.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $81.89.
Shares of NYSE NVRO opened at $67.42 on Thursday. Nevro has a 52 week low of $35.41 and a 52 week high of $94.34. The company has a quick ratio of 6.29, a current ratio of 8.06 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -53.94 and a beta of -0.71.
Nevro (NYSE:NVRO) last issued its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Nevro had a negative return on equity of 15.84% and a negative net margin of 10.68%. The company had revenue of $96.10 million during the quarter, compared to the consensus estimate of $96.10 million. During the same quarter in the prior year, the business earned ($0.40) EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. equities analysts forecast that Nevro will post -1.42 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Next Century Growth Investors LLC bought a new stake in shares of Nevro during the 1st quarter valued at about $138,000. Victory Capital Management Inc. lifted its position in Nevro by 2,245.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,345 shares of the medical equipment provider’s stock worth $203,000 after buying an additional 2,245 shares during the last quarter. SG Americas Securities LLC bought a new stake in Nevro in the 1st quarter worth approximately $208,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Nevro by 69.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $210,000 after buying an additional 999 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in Nevro in the 2nd quarter worth approximately $223,000.
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.
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