Nevro (NVRO) Price Target Lowered to $60.00 at BMO Capital Markets

Nevro (NYSE:NVRO) had its price objective lowered by BMO Capital Markets from $76.00 to $60.00 in a research report sent to investors on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the medical equipment provider’s stock. The analysts noted that the move was a valuation call.

Several other research analysts have also recently issued reports on NVRO. Zacks Investment Research cut shares of Nevro from a hold rating to a sell rating in a report on Tuesday, July 10th. JPMorgan Chase & Co. reissued a buy rating on shares of Nevro in a report on Wednesday, July 11th. ValuEngine cut shares of Nevro from a sell rating to a strong sell rating in a report on Saturday, July 14th. Canaccord Genuity cut their price target on shares of Nevro from $102.00 to $83.00 and set a buy rating for the company in a report on Monday, July 16th. Finally, Morgan Stanley cut their price target on shares of Nevro from $88.00 to $65.00 and set an equal weight rating for the company in a report on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $64.11.

Shares of NVRO traded down $1.13 during mid-day trading on Tuesday, hitting $41.92. 870,781 shares of the company’s stock were exchanged, compared to its average volume of 824,902. Nevro has a fifty-two week low of $35.41 and a fifty-two week high of $94.34. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -33.54 and a beta of -0.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.29 and a current ratio of 8.05.

Nevro (NYSE:NVRO) last announced its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.07). The business had revenue of $95.60 million for the quarter, compared to analyst estimates of $94.29 million. Nevro had a negative return on equity of 17.89% and a negative net margin of 11.64%. Nevro’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. Equities research analysts forecast that Nevro will post -1.49 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. increased its holdings in Nevro by 69.7% in 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 buying an additional 999 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Nevro during the 2nd quarter worth approximately $223,000. Redmile Group LLC purchased a new position in shares of Nevro during the 2nd quarter worth approximately $271,000. Xact Kapitalforvaltning AB purchased a new position in shares of Nevro during the 1st quarter worth approximately $300,000. Finally, UBS Group AG increased its stake in shares of Nevro by 38.0% during the 1st quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock worth $474,000 after purchasing an additional 1,509 shares in the last quarter.

Nevro Company Profile

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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