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

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

Other equities analysts have also recently issued reports about the stock. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Robert W. Baird reduced their target price on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Truist Financial cut their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, Nevro currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Nevro Stock Down 1.2 %

Shares of NVRO stock opened at $5.08 on Wednesday. The firm’s fifty day moving average price is $5.42 and its two-hundred day moving average price is $8.47. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64. The firm has a market capitalization of $186.58 million, a P/E ratio of -2.22 and a beta of 0.94.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The company had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter in the prior year, the business posted ($0.69) EPS. The business’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that Nevro will post -2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

Several large investors have recently modified their holdings of NVRO. Assenagon Asset Management S.A. boosted its holdings in Nevro by 490.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after buying an additional 605,134 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Nevro by 3,446.5% in the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after acquiring an additional 148,200 shares during the period. Acadian Asset Management LLC grew its position in shares of Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after purchasing an additional 146,276 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after purchasing an additional 168,573 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Nevro by 69.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after purchasing an additional 431,136 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

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.