Nevro (NYSE:NVRO) Downgraded to “Underweight” Rating by Morgan Stanley

Morgan Stanley lowered shares of Nevro (NYSE:NVRO) from an equal weight rating to an underweight rating in a research note published on Monday, MarketBeat Ratings reports. The firm currently has $4.00 price target on the medical equipment provider’s stock, down from their prior price target of $9.00.

Several other research firms have also commented on NVRO. Robert W. Baird lifted their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $7.00 target price on shares of Nevro in a report on Tuesday, November 12th. StockNews.com upgraded shares of Nevro from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company downgraded Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.60.

Nevro Trading Down 6.8 %

NVRO stock opened at $4.29 on Monday. The business’s 50-day moving average is $4.94 and its 200 day moving average is $6.82. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64. The stock has a market cap of $160.56 million, a price-to-earnings ratio of -2.27 and a beta of 0.93. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. During the same period in the prior year, the company earned ($0.65) EPS. The firm’s revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Nevro will post -2.43 EPS for the current fiscal year.

Institutional Trading of Nevro

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after acquiring an additional 7,004 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after purchasing an additional 605,134 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after buying an additional 6,565 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Nevro by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 127,866 shares of the medical equipment provider’s stock worth $1,077,000 after buying an additional 8,673 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after buying an additional 2,836 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.