Nevro (NYSE:NVRO) Sees Large Volume Increase on Analyst Upgrade

Nevro Corp (NYSE:NVRO) shares saw unusually-high trading volume on Friday after Morgan Stanley raised their price target on the stock from $76.00 to $100.00. Morgan Stanley currently has an overweight rating on the stock. Approximately 394,066 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 311,231 shares.The stock last traded at $104.95 and had previously closed at $103.38.

Several other analysts also recently commented on NVRO. Wells Fargo & Co reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $86.00) on shares of Nevro in a research note on Thursday. JMP Securities raised their price objective on Nevro to $115.00 and gave the stock an “outperform” rating in a research note on Thursday. Leerink Swann set a $98.00 price objective on Nevro and gave the stock a “buy” rating in a research note on Friday, August 23rd. Northland Securities set a $65.00 price objective on Nevro and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research raised Nevro from a “sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Nevro presently has an average rating of “Hold” and an average price target of $83.33.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Capital Management Inc. ADV acquired a new stake in shares of Nevro in the 3rd quarter valued at about $26,000. Quantamental Technologies LLC bought a new position in shares of Nevro in the 2nd quarter valued at about $75,000. Atria Investments LLC bought a new position in shares of Nevro in the 2nd quarter valued at about $267,000. Creative Planning bought a new position in shares of Nevro in the 3rd quarter valued at about $224,000. Finally, Prudential Financial Inc. bought a new position in shares of Nevro in the 2nd quarter valued at about $202,000.

The company has a market cap of $2.69 billion, a P/E ratio of -63.78 and a beta of 0.21. The company has a fifty day moving average price of $85.16 and a two-hundred day moving average price of $72.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.66 and a current ratio of 6.05.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.27. The company had revenue of $100.16 million during the quarter, compared to analysts’ expectations of $92.27 million. Nevro had a negative return on equity of 41.07% and a negative net margin of 24.51%. Nevro’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. Research analysts anticipate that Nevro Corp will post -3.99 EPS for the current year.

Nevro Company Profile (NYSE:NVRO)

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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