Nevro (NVRO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Nevro (NYSE:NVRO) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets cut shares of Nevro from an outperform rating to a market perform rating in a research note on Friday, February 22nd. UBS Group began coverage on shares of Nevro in a research note on Tuesday, November 27th. They set a sell rating and a $35.00 price target on the stock. Canaccord Genuity decreased their price target on shares of Nevro from $80.00 to $63.00 and set an in-line rating on the stock in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Morgan Stanley cut shares of Nevro from an equal rating to a weight rating and decreased their price target for the stock from $65.00 to $43.00 in a research note on Tuesday, November 6th. Finally, Northland Securities reaffirmed a hold rating and set a $48.00 price target on shares of Nevro in a research note on Friday, January 11th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Nevro has an average rating of Hold and an average price target of $58.00.

Nevro stock opened at $46.20 on Wednesday. Nevro has a 12-month low of $34.75 and a 12-month high of $94.34. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -28.17 and a beta of 0.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.31 and a current ratio of 8.05.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Thursday, February 21st. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.15). Nevro had a negative return on equity of 20.15% and a negative net margin of 12.70%. The firm had revenue of $107.90 million for the quarter, compared to analyst estimates of $107.39 million. During the same period in the prior year, the business earned ($0.15) earnings per share. Nevro’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Nevro will post -2.31 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVRO. Advisor Group Inc. boosted its position in shares of Nevro by 64.5% in the fourth quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 361 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Nevro in the fourth quarter worth approximately $113,000. Cerebellum GP LLC acquired a new stake in shares of Nevro in the fourth quarter worth approximately $177,000. HRT Financial LLC acquired a new stake in shares of Nevro in the third quarter worth approximately $208,000. Finally, Tower Research Capital LLC TRC raised its holdings in Nevro by 4,723.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,341 shares of the medical equipment provider’s stock valued at $248,000 after buying an additional 4,251 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

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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