Nevro (NVRO) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of Nevro (NYSE:NVRO) from an equal rating to a weight rating in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have $43.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $65.00.

Other analysts also recently issued reports about the stock. Bank of America dropped their target price on shares of Nevro from $102.00 to $77.00 and set a buy rating on the stock in a report on Tuesday, July 17th. Canaccord Genuity dropped their target price on shares of Nevro from $102.00 to $83.00 and set a buy rating on the stock in a report on Monday, July 16th. JPMorgan Chase & Co. reiterated a buy rating on shares of Nevro in a report on Wednesday, July 11th. Zacks Investment Research upgraded shares of Nevro from a sell rating to a hold rating in a report on Tuesday, September 18th. Finally, Wells Fargo & Co dropped their target price on shares of Nevro from $84.00 to $62.00 and set a market perform rating on the stock in a report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $64.11.

Shares of NYSE NVRO traded down $1.13 during midday trading on Tuesday, reaching $41.92. The company’s stock had a trading volume of 870,781 shares, compared to its average volume of 824,902. The company has a debt-to-equity ratio of 0.62, a current ratio of 8.05 and a quick ratio of 6.29. Nevro has a one year low of $35.41 and a one year high of $94.34. The company has a market capitalization of $1.25 billion, a P/E ratio of -33.54 and a beta of -0.29.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.07). Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. The business had revenue of $95.60 million during the quarter, compared to the consensus estimate of $94.29 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, analysts anticipate that Nevro will post -1.49 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Nevro by 69.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock valued at $210,000 after acquiring an additional 999 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Nevro during the second quarter valued at approximately $223,000. Redmile Group LLC acquired a new stake in shares of Nevro during the second quarter valued at approximately $271,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Nevro during the first quarter valued at approximately $300,000. Finally, UBS Group AG raised its holdings in shares of Nevro by 38.0% during the first quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock valued at $474,000 after acquiring an additional 1,509 shares during the period.

About Nevro

Nevro Corp., a medical device company, provides products for the 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.

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