Nevro (NVRO) Downgraded by BidaskClub to Strong Sell

Nevro (NYSE:NVRO) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, November 14th.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. TheStreet upgraded Nevro from a “d+” rating to a “c-” rating in a research report on Monday, November 6th. Canaccord Genuity restated a “buy” rating and issued a $120.00 price objective on shares of Nevro in a research report on Sunday, October 8th. BMO Capital Markets restated a “buy” rating and issued a $106.00 price objective on shares of Nevro in a research report on Friday, September 1st. Finally, Leerink Swann reiterated an “outperform” rating and set a $110.00 target price (up previously from $105.00) on shares of Nevro in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Nevro has a consensus rating of “Hold” and an average price target of $100.00.

Shares of Nevro (NYSE NVRO) traded down $0.82 during trading on Tuesday, reaching $74.00. 511,861 shares of the company’s stock were exchanged, compared to its average volume of 529,321. Nevro has a fifty-two week low of $65.82 and a fifty-two week high of $99.63. The company has a quick ratio of 6.81, a current ratio of 8.78 and a debt-to-equity ratio of 0.59.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 6th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. The firm had revenue of $82.26 million for the quarter, compared to the consensus estimate of $80.50 million. Nevro had a negative net margin of 14.09% and a negative return on equity of 17.27%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. sell-side analysts anticipate that Nevro will post -1.27 EPS for the current year.

In other Nevro news, CFO Andrew H. Galligan sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $75.11, for a total value of $525,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Demane sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $89.50, for a total value of $447,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,467 shares of company stock valued at $5,576,679. 12.10% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of NVRO. Prudential Financial Inc. acquired a new stake in shares of Nevro during the 1st quarter worth about $237,000. Teachers Advisors LLC increased its position in shares of Nevro by 2.0% during the 1st quarter. Teachers Advisors LLC now owns 43,608 shares of the medical equipment provider’s stock worth $4,086,000 after purchasing an additional 873 shares during the last quarter. Legal & General Group Plc boosted its holdings in Nevro by 5.4% during the 1st quarter. Legal & General Group Plc now owns 8,137 shares of the medical equipment provider’s stock valued at $760,000 after acquiring an additional 418 shares during the period. Vanguard Group Inc. boosted its holdings in Nevro by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,934,593 shares of the medical equipment provider’s stock valued at $181,271,000 after acquiring an additional 98,555 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Nevro by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 175,766 shares of the medical equipment provider’s stock valued at $16,469,000 after acquiring an additional 11,404 shares during the period.

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Nevro 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.

Analyst Recommendations for Nevro (NYSE:NVRO)

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