Nevro Corp. (NVRO) Rating Lowered to Sell at BidaskClub
BidaskClub lowered shares of Nevro Corp. (NYSE:NVRO) from a hold rating to a sell rating in a research note published on Friday.
A number of other brokerages have also recently commented on NVRO. B. Riley cut Nevro Corp. from a buy rating to a neutral rating and lowered their target price for the company from $108.00 to $85.00 in a report on Tuesday, May 9th. Zacks Investment Research cut Nevro Corp. from a hold rating to a sell rating in a report on Thursday, May 11th. ValuEngine cut Nevro Corp. from a hold rating to a sell rating in a report on Wednesday, May 24th. Canaccord Genuity reiterated a buy rating and set a $120.00 target price on shares of Nevro Corp. in a report on Wednesday, July 5th. Finally, Northland Securities set a $96.00 target price on Nevro Corp. and gave the company a buy rating in a report on Thursday, June 15th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Nevro Corp. has an average rating of Hold and a consensus price target of $101.40.
Nevro Corp. (NYSE:NVRO) traded down 1.43% during trading on Friday, reaching $84.83. The company’s stock had a trading volume of 61,207 shares. Nevro Corp. has a 52 week low of $65.82 and a 52 week high of $106.93. The company has a 50 day moving average price of $79.73 and a 200-day moving average price of $85.51. The company’s market capitalization is $2.49 billion.
Nevro Corp. (NYSE:NVRO) last announced its earnings results on Monday, May 8th. The medical equipment provider reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.24. The company had revenue of $68.40 million for the quarter, compared to analyst estimates of $68.71 million. Nevro Corp. had a negative net margin of 14.49% and a negative return on equity of 14.50%. Nevro Corp.’s quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.33) EPS. Equities research analysts anticipate that Nevro Corp. will post ($1.02) earnings per share for the current year.
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In other news, CFO Andrew H. Galligan sold 7,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $75.30, for a total transaction of $564,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in Nevro Corp. during the first quarter valued at about $164,000. Tower Research Capital LLC TRC boosted its stake in Nevro Corp. by 118.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the medical equipment provider’s stock valued at $182,000 after buying an additional 1,055 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Nevro Corp. during the first quarter valued at about $194,000. US Bancorp DE boosted its stake in Nevro Corp. by 412.4% in the second quarter. US Bancorp DE now owns 2,608 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 2,099 shares during the period. Finally, Inspirion Wealth Advisors LLC acquired a new stake in Nevro Corp. during the second quarter valued at about $205,000.
Nevro Corp. Company Profile
Nevro Corp. is a global medical device company. The Company focuses on providing products that improve the quality of life of patients suffering from chronic pain. The Company has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain.
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