Nevro (NVRO) Rating Lowered to Neutral at JPMorgan Chase & Co.

Nevro (NYSE:NVRO) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other brokerages have also issued reports on NVRO. Zacks Investment Research lowered Nevro from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. ValuEngine raised Nevro from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. BMO Capital Markets cut their target price on Nevro from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, August 6th. Bank of America dropped their price target on Nevro from $102.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. Finally, Wells Fargo & Co dropped their price target on Nevro from $84.00 to $62.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $77.56.

Shares of Nevro stock opened at $45.88 on Tuesday. The firm has a market cap of $1.44 billion, a PE ratio of -36.70 and a beta of -0.29. The company has a current ratio of 8.06, a quick ratio of 6.29 and a debt-to-equity ratio of 0.61. Nevro has a 12-month low of $35.41 and a 12-month high of $94.34.

Nevro (NYSE:NVRO) last announced its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.07). The company had revenue of $95.60 million for the quarter, compared to analyst estimates of $94.29 million. Nevro had a negative return on equity of 15.84% and a negative net margin of 10.68%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Equities research analysts predict that Nevro will post -1.42 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Nevro by 9.9% during the second 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 raised its position in Nevro by 22.3% during the second 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 raised its position in Nevro by 66.0% during the second 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 raised its position in Nevro by 8.9% during the second 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 raised its position in Nevro by 1.6% during the second 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.

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