Nevro Target of Unusually Large Options Trading (NVRO)

Nevro Corp (NYSE:NVRO) was the target of some unusual options trading on Thursday. Investors bought 1,469 put options on the stock. This is an increase of approximately 1,326% compared to the typical volume of 103 put options.

Several equities research analysts recently commented on NVRO shares. Morgan Stanley cut Nevro from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Monday, July 2nd. ValuEngine cut Nevro from a “hold” rating to a “sell” rating in a research note on Thursday, July 5th. Zacks Investment Research cut Nevro from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nevro in a research note on Wednesday, July 11th. Finally, Canaccord Genuity lowered their price target on Nevro from $102.00 to $83.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Nevro currently has a consensus rating of “Hold” and a consensus target price of $81.89.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in Nevro in the 3rd quarter worth approximately $660,000. Northern Trust Corp lifted its holdings in shares of Nevro by 11.9% during the second quarter. Northern Trust Corp now owns 365,960 shares of the medical equipment provider’s stock worth $29,221,000 after buying an additional 38,999 shares during the last quarter. Waddell & Reed Financial Inc. lifted its holdings in shares of Nevro by 6.4% during the second quarter. Waddell & Reed Financial Inc. now owns 480,285 shares of the medical equipment provider’s stock worth $38,351,000 after buying an additional 28,920 shares during the last quarter. Redmile Group LLC acquired a new position in shares of Nevro during the second quarter worth approximately $271,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Nevro by 21.4% during the second quarter. Macquarie Group Ltd. now owns 36,548 shares of the medical equipment provider’s stock worth $2,918,000 after buying an additional 6,437 shares during the last quarter.

NVRO opened at $52.86 on Friday. Nevro has a twelve month low of $35.41 and a twelve month 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. The company has a market capitalization of $1.72 billion, a P/E ratio of -42.29 and a beta of -0.68.

Nevro (NYSE:NVRO) last posted its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.10 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts expect that Nevro will post -1.42 earnings per share for the current year.

About Nevro

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.

Featured Article: How to interpret a stock’s beta number

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.


Leave a Reply