Nevro (NVRO) Downgraded by Morgan Stanley

Morgan Stanley cut shares of Nevro (NYSE:NVRO) from an equal rating to a weight rating in a report published on Tuesday morning, Marketbeat.com reports. They currently have $43.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $65.00.

Other research analysts have also issued reports about the stock. Bank of America decreased their price target on shares of Nevro from $102.00 to $77.00 and set a buy rating for the company in a report on Tuesday, July 17th. Canaccord Genuity decreased their price target on shares of Nevro from $102.00 to $83.00 and set a buy rating for the company in a report on Monday, July 16th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Nevro in a report on Wednesday, July 11th. Zacks Investment Research raised shares of Nevro from a sell rating to a hold rating in a research note on Tuesday, September 18th. Finally, Wells Fargo & Co reduced their target price on shares of Nevro from $84.00 to $62.00 and set a market perform rating for the company in a research note on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Nevro presently has an average rating of Hold and an average target price of $64.11.

Shares of NYSE NVRO traded down $1.13 during midday trading on Tuesday, hitting $41.92. The company’s stock had a trading volume of 870,781 shares, compared to its average volume of 824,902. Nevro has a 1-year low of $35.41 and a 1-year high of $94.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.29 and a current ratio of 8.05. The firm has a market capitalization of $1.25 billion, a PE ratio of -33.54 and a beta of -0.29.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.07). Nevro had a negative net margin of 11.64% and a negative return on equity of 17.89%. The business had revenue of $95.60 million during the quarter, compared to analyst estimates of $94.29 million. During the same period last year, the firm posted ($0.21) earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. Equities analysts forecast that Nevro will post -1.49 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB boosted its stake in Nevro by 23.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,258 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 800 shares during the period. Rhumbline Advisers boosted its stake in Nevro by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 28,525 shares of the medical equipment provider’s stock valued at $2,278,000 after purchasing an additional 856 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake 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 purchasing an additional 999 shares during the period. UBS Group AG lifted its stake in shares of Nevro by 38.0% in the 1st quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 1,509 shares during the period. Finally, Gradient Investments LLC lifted its stake in shares of Nevro by 38.5% in the 2nd quarter. Gradient Investments LLC now owns 9,195 shares of the medical equipment provider’s stock worth $734,000 after acquiring an additional 2,555 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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