11 hours Ago By ABMN Staff
Nevro ( NYSE:NVRO – Get Free Report ) was downgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Monday, MarketBeat reports. They presently have a $4.00 price target on the medical equipment provider’s stock, down from their previous price target of $9.
00. Morgan Stanley’s target price indicates a potential downside of 6.10% from the stock’s previous close.
A number of other brokerages have also recently issued reports on NVRO. Citigroup cut their price objective on Nevro from $6.89 to $6.
00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. JPMorgan Chase & Co.
lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler cut their target price on shares of Nevro from $7.00 to $6.
00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lowered Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $13.00 to $5.
50 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.
55. View Our Latest Report on NVRO Nevro Price Performance Nevro ( NYSE:NVRO – Get Free Report ) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.
41) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million.
During the same period in the previous year, the business earned ($0.65) earnings per share. The company’s quarterly revenue was down 7.
0% on a year-over-year basis. As a group, research analysts expect that Nevro will post -2.43 EPS for the current fiscal year.
Institutional Trading of Nevro Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Nevro by 5.0% during the second quarter.
Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 2,836 shares during the period. Nisa Investment Advisors LLC grew 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 period. Price T Rowe Associates Inc. MD increased its stake in shares of Nevro by 18.
4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after acquiring an additional 7,004 shares during the last quarter.
Blair William & Co. IL increased its stake in shares of Nevro by 13.9% in the 2nd quarter.
Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 7,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Nevro by 345.
8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after acquiring an additional 8,300 shares during the period. Institutional investors own 95.
52% of the company’s stock. Nevro Company Profile ( Get Free Report ) 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. Recommended Stories Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter .
.
