Zacks Investment Research downgraded shares of Nevro (NYSE:NVRO) from a hold rating to a sell rating in a research report released 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. “

A number of other analysts have also commented on the stock. BMO Capital Markets lowered their target price on shares of Nevro from $80.00 to $76.00 and set an outperform rating for the company in a report on Monday, August 6th. Morgan Stanley lowered their target price on shares of Nevro from $88.00 to $65.00 and set an equal weight rating for the company in a report on Tuesday, July 17th. Bank of America lowered their target price on shares of Nevro from $102.00 to $77.00 and set a buy rating for the company in a report on Tuesday, July 17th. Canaccord Genuity lowered their target price on shares of Nevro from $102.00 to $83.00 and set a buy rating for the company in a report on Monday, July 16th. Finally, ValuEngine raised shares of Nevro from a strong sell rating to a sell rating in a report on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Nevro currently has a consensus rating of Hold and a consensus price target of $81.89.

NVRO stock traded up $0.77 during trading on Thursday, hitting $66.69. The company had a trading volume of 6,060 shares, compared to its average volume of 393,241. The company has a debt-to-equity ratio of 0.61, a current ratio of 8.06 and a quick ratio of 6.29. Nevro has a 12 month low of $35.41 and a 12 month high of $94.34. The stock has a market capitalization of $2.03 billion, a PE ratio of -53.68 and a beta of -0.71.

Nevro (NYSE:NVRO) last released its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.10 million. During the same period in the prior year, the firm posted ($0.40) EPS. Nevro’s revenue was up 23.2% on a year-over-year basis. equities analysts expect that Nevro will post -1.42 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Nevro by 9.9% in the 2nd quarter. BlackRock Inc. now owns 2,947,118 shares of the medical equipment provider’s stock valued at $235,328,000 after buying an additional 265,361 shares during the period. Jennison Associates LLC grew its holdings in shares of Nevro by 22.3% in the 2nd quarter. Jennison Associates LLC now owns 1,690,765 shares of the medical equipment provider’s stock valued at $135,008,000 after buying an additional 307,980 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Nevro by 66.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,366,980 shares of the medical equipment provider’s stock valued at $109,153,000 after buying an additional 543,401 shares during the period. Zevenbergen Capital Investments LLC grew its holdings in shares of Nevro by 8.9% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 667,730 shares of the medical equipment provider’s stock valued at $53,318,000 after buying an additional 54,430 shares during the period. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Nevro by 1.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 596,939 shares of the medical equipment provider’s stock valued at $47,666,000 after buying an additional 9,152 shares during the period.

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.

Further Reading: How to Invest in Marijuana Stocks

Get a free copy of the Zacks research report on Nevro (NVRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nevro (NYSE:NVRO)

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.