Shares of Nevro Corp. (NYSE:NVRO – Get Rating) gapped down prior to trading on Thursday after Morgan Stanley lowered their price target on the stock from $55.00 to $54.00. The stock had previously closed at $47.42, but opened at $44.07. Morgan Stanley currently has an equal weight rating on the stock. Nevro shares last traded at $45.50, with a volume of 5,464 shares traded.
A number of other analysts have also commented on the stock. StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Citigroup dropped their price target on shares of Nevro from $78.00 to $68.00 in a research report on Tuesday, May 17th. Piper Sandler dropped their price target on shares of Nevro from $64.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Nevro from $90.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, JMP Securities dropped their price target on shares of Nevro from $125.00 to $95.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.82.
In related news, General Counsel Kashif Rashid acquired 2,250 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were bought at an average cost of $44.50 per share, with a total value of $100,125.00. Following the completion of the transaction, the general counsel now directly owns 53,526 shares of the company’s stock, valued at $2,381,907. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On Nevro
Nevro Price Performance
The company has a quick ratio of 5.68, a current ratio of 6.97 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $44.92 and its 200 day moving average is $58.48. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -11.66 and a beta of 0.96.
Nevro (NYSE:NVRO – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical equipment provider reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.13. The firm had revenue of $87.40 million for the quarter, compared to the consensus estimate of $86.19 million. Nevro had a negative net margin of 35.25% and a negative return on equity of 38.02%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.85) earnings per share. On average, equities research analysts anticipate that Nevro Corp. will post -2.9 earnings per share for the current fiscal year.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for 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, as well as Senza II and Senza Omnia systems.
- Get a free copy of the StockNews.com research report on Nevro (NVRO)
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