Nevro Corp. (NYSE:NVRO - Get Free Report) dropped 4.8% on Monday . The stock traded as low as $13.58 and last traded at $13.75. Approximately 22,683 shares traded hands during trading, a decline of 95% from the average daily volume of 481,205 shares. The stock had previously closed at $14.44.
Analyst Ratings Changes
NVRO has been the topic of several research analyst reports. Canaccord Genuity Group reissued a "hold" rating and set a $23.00 target price on shares of Nevro in a research report on Thursday, December 21st. Wells Fargo & Company dropped their price target on Nevro from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 22nd. Oppenheimer downgraded Nevro from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 22nd. Royal Bank of Canada downgraded Nevro from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 12th. Finally, Canaccord Genuity Group downgraded Nevro from a "buy" rating to a "hold" rating and set a $23.00 price target on the stock. in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.23.
Get Our Latest Research Report on NVRO
Nevro Stock Down 7.8 %
The firm has a 50 day simple moving average of $15.79 and a two-hundred day simple moving average of $17.45. The company has a market capitalization of $484.85 million, a PE ratio of -5.25 and a beta of 0.89. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72.
Nevro (NYSE:NVRO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.35. Nevro had a negative return on equity of 30.22% and a negative net margin of 21.69%. The firm had revenue of $116.18 million for the quarter, compared to the consensus estimate of $115.93 million. Research analysts expect that Nevro Corp. will post -2.53 EPS for the current year.
Institutional Trading of Nevro
A number of institutional investors have recently modified their holdings of the business. Quarry LP raised its holdings in Nevro by 174.3% during the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 643 shares during the last quarter. UBS Group AG raised its holdings in Nevro by 206.3% during the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 821 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Nevro by 26.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider's stock worth $61,000 after purchasing an additional 668 shares during the last quarter. Assetmark Inc. raised its holdings in Nevro by 30.4% during the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider's stock worth $67,000 after purchasing an additional 730 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Nevro during the third quarter worth $132,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.
About Nevro
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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.
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