Nevro (NYSE:NVRO) had its price objective decreased by Wells Fargo & Co from $62.00 to $50.00 in a research note released on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a market perform rating on the medical equipment provider’s stock.
Several other research firms have also recently commented on NVRO. JPMorgan Chase & Co. cut shares of Nevro from an overweight rating to a neutral rating and dropped their target price for the stock from $77.00 to $45.00 in a research report on Tuesday. Zacks Investment Research raised shares of Nevro from a sell rating to a hold rating in a research report on Tuesday, September 18th. Leerink Swann dropped their target price on shares of Nevro from $95.00 to $90.00 and set an outperform rating for the company in a research report on Tuesday, July 17th. Canaccord Genuity dropped their target price on shares of Nevro from $102.00 to $83.00 and set a buy rating for the company in a research report on Monday, July 16th. Finally, ValuEngine cut shares of Nevro from a sell rating to a strong sell rating in a research report on Saturday, July 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Nevro has a consensus rating of Hold and an average target price of $67.30.
Nevro stock traded up $1.79 during trading hours on Tuesday, reaching $39.94. The stock had a trading volume of 18,539 shares, compared to its average volume of 511,343. The firm has a market cap of $1.44 billion, a PE ratio of -31.53 and a beta of -0.29. Nevro has a 52 week low of $35.41 and a 52 week high of $94.34. The company has a quick ratio of 6.29, a current ratio of 8.06 and a debt-to-equity ratio of 0.61.
Nevro (NYSE:NVRO) last announced its quarterly 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 firm had revenue of $95.60 million during the quarter, compared to the consensus estimate of $94.29 million. Nevro had a negative return on equity of 15.84% and a negative net margin of 10.68%. Nevro’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. As a group, sell-side analysts expect that Nevro will post -1.42 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. lifted its position in Nevro by 69.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock valued at $210,000 after acquiring an additional 999 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Nevro during the 2nd quarter valued at about $223,000. Redmile Group LLC purchased a new position in Nevro during the 2nd quarter valued at about $271,000. Xact Kapitalforvaltning AB purchased a new position in Nevro during the 1st quarter valued at about $300,000. Finally, UBS Group AG lifted its position in Nevro by 38.0% during the 1st quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock valued at $474,000 after acquiring an additional 1,509 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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