Nevro (NVRO) Downgraded to “Sell” at Goldman Sachs Group
Goldman Sachs Group downgraded shares of Nevro (NYSE:NVRO) from a neutral rating to a sell rating in a research note published on Friday morning, MarketBeat reports. The firm currently has $44.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $60.00.
Several other research analysts have also weighed in on NVRO. ValuEngine lowered shares of Nevro from a sell rating to a strong sell rating in a report on Saturday, July 14th. Morgan Stanley lowered shares of Nevro from an overweight rating to an equal weight rating and set a $95.00 price objective on the stock. in a report on Monday, July 2nd. Wells Fargo & Co cut their price objective on shares of Nevro from $84.00 to $62.00 and set a market perform rating on the stock in a report on Tuesday, July 17th. JPMorgan Chase & Co. reiterated a buy rating on shares of Nevro in a report on Wednesday, July 11th. Finally, Leerink Swann cut their price objective on shares of Nevro from $95.00 to $90.00 and set an outperform rating on the stock in a report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $77.56.
Shares of NVRO stock traded down $3.57 during trading hours on Friday, hitting $50.30. 1,255,879 shares of the company were exchanged, compared to its average volume of 437,594. The firm has a market cap of $1.62 billion, a P/E ratio of -40.24 and a beta of -0.69. Nevro has a 1 year low of $35.41 and a 1 year high of $94.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 8.06 and a quick ratio of 6.29.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVRO. Royal Bank of Canada raised its stake in shares of Nevro by 65.0% during the first quarter. Royal Bank of Canada now owns 7,702 shares of the medical equipment provider’s stock valued at $666,000 after purchasing an additional 3,035 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Nevro during the second quarter valued at approximately $1,054,000. Canada Pension Plan Investment Board raised its stake in shares of Nevro by 496.5% during the second quarter. Canada Pension Plan Investment Board now owns 51,300 shares of the medical equipment provider’s stock valued at $4,096,000 after purchasing an additional 42,700 shares during the period. Rhumbline Advisers raised its stake in shares of Nevro by 3.1% during the second quarter. Rhumbline Advisers now owns 28,525 shares of the medical equipment provider’s stock valued at $2,278,000 after purchasing an additional 856 shares during the period. Finally, Swiss National Bank raised its stake in shares of Nevro by 13.6% during the second quarter. Swiss National Bank now owns 46,700 shares of the medical equipment provider’s stock valued at $3,729,000 after purchasing an additional 5,600 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: Buyback
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