Nevro (NYSE:NVRO) Downgraded by StockNews.com

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

NVRO has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered Nevro from a neutral rating to an underweight rating in a report on Wednesday, August 7th. Mizuho cut their price target on shares of Nevro from $20.00 to $16.00 and set a neutral rating for the company in a report on Thursday, April 11th. Royal Bank of Canada reduced their price target on shares of Nevro from $16.00 to $7.00 and set a sector perform rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group decreased their price target on shares of Nevro from $17.00 to $11.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Finally, Morgan Stanley dropped their price objective on Nevro from $14.00 to $9.00 and set an equal weight rating for the company in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $10.63.

Nevro Price Performance

NYSE NVRO opened at $6.01 on Thursday. The company has a quick ratio of 5.57, a current ratio of 7.38 and a debt-to-equity ratio of 0.77. The company has a market cap of $220.74 million, a PE ratio of -2.62 and a beta of 0.91. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The firm’s 50-day simple moving average is $8.82 and its two-hundred day simple moving average is $11.91.

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

Institutional Investors Weigh In On Nevro

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after purchasing an additional 341,343 shares during the last quarter. Norges Bank bought a new stake in Nevro in the 4th quarter worth $8,498,000. Goldman Sachs Group Inc. increased its position in shares of Nevro by 69.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock valued at $22,554,000 after acquiring an additional 431,136 shares during the period. Nomura Holdings Inc. raised its stake in shares of Nevro by 28.1% during the fourth quarter. Nomura Holdings Inc. now owns 59,250 shares of the medical equipment provider’s stock valued at $1,275,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Nevro during the fourth quarter worth about $893,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

About Nevro

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.