Nevro Corp. (NYSE:NVRO) Rating Lowered to Hold at Zacks Investment Research
Nevro Corp. (NYSE:NVRO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
Several other research analysts have also recently commented on the company. Northland Securities reissued a “buy” rating and set a $96.00 price target on shares of Nevro Corp. in a research report on Tuesday. Morgan Stanley increased their price target on Nevro Corp. from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday. BidaskClub cut Nevro Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Canaccord Genuity reissued a “buy” rating and set a $120.00 price target on shares of Nevro Corp. in a research report on Wednesday, July 5th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $102.00 price target on shares of Nevro Corp. in a research report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Nevro Corp. currently has an average rating of “Hold” and an average target price of $102.00.
Nevro Corp. (NYSE NVRO) opened at 80.87 on Friday. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $106.93. The company’s market capitalization is $2.38 billion. The company has a 50 day moving average price of $82.00 and a 200-day moving average price of $85.28.
Nevro Corp. (NYSE:NVRO) last issued its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.11. Nevro Corp. had a negative net margin of 14.33% and a negative return on equity of 16.25%. The company had revenue of $78.02 million for the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company posted ($0.31) earnings per share. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, equities analysts anticipate that Nevro Corp. will post ($1.17) earnings per share for the current fiscal year.
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In other Nevro Corp. news, CFO Andrew H. Galligan sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $75.30, for a total value of $564,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 12.10% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NVRO. Pictet Asset Management Ltd. raised its position in shares of Nevro Corp. by 28.2% in the first quarter. Pictet Asset Management Ltd. now owns 85,027 shares of the medical equipment provider’s stock worth $7,967,000 after buying an additional 18,708 shares during the period. Princeton Alpha Management LP purchased a new position in shares of Nevro Corp. during the first quarter worth $322,000. Capital Fund Management S.A. raised its position in shares of Nevro Corp. by 514.8% in the first quarter. Capital Fund Management S.A. now owns 69,585 shares of the medical equipment provider’s stock worth $6,520,000 after buying an additional 58,266 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Nevro Corp. by 4.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,537 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 102 shares during the period. Finally, Shaker Investments LLC OH purchased a new position in shares of Nevro Corp. during the first quarter worth $796,000.
Nevro Corp. Company Profile
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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