Nevro (NVRO) Rating Reiterated by Northland Securities

Northland Securities restated their hold rating on shares of Nevro (NYSE:NVRO) in a research report report published on Friday. The firm currently has a $48.00 price target on the medical equipment provider’s stock.

“We are introducing our FY20 numbers, and our rating / PT remains the same.”,” Northland Securities’ analyst wrote.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Nevro from a buy rating to a hold rating in a report on Thursday. Morgan Stanley dropped their target price on shares of Nevro from $43.00 to $38.00 and set an underweight rating on the stock in a report on Wednesday, January 2nd. UBS Group assumed coverage on shares of Nevro in a report on Tuesday, November 27th. They set a sell rating and a $35.00 target price on the stock. Bank of America cut shares of Nevro from a buy rating to a neutral rating in a report on Wednesday, November 7th. Finally, BMO Capital Markets dropped their target price on shares of Nevro from $76.00 to $60.00 and set an outperform rating on the stock in a report on Tuesday, November 6th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $58.00.

Shares of Nevro stock opened at $39.33 on Friday. The company has a current ratio of 8.05, a quick ratio of 6.31 and a debt-to-equity ratio of 0.62. Nevro has a 1 year low of $34.75 and a 1 year high of $94.34. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -31.46 and a beta of -0.12.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 5th. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $94.29 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts forecast that Nevro will post -1.49 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in NVRO. Schwab Charles Investment Management Inc. boosted its holdings in shares of Nevro by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 147,299 shares of the medical equipment provider’s stock valued at $11,762,000 after buying an additional 9,173 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Nevro by 9.9% in the 2nd quarter. BlackRock Inc. now owns 2,947,118 shares of the medical equipment provider’s stock valued at $235,328,000 after buying an additional 265,361 shares in the last quarter. FMR LLC boosted its holdings in shares of Nevro by 48.7% in the 2nd quarter. FMR LLC now owns 583,000 shares of the medical equipment provider’s stock valued at $46,553,000 after buying an additional 191,000 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Nevro by 21.4% in the 2nd quarter. Macquarie Group Ltd. now owns 36,548 shares of the medical equipment provider’s stock valued at $2,918,000 after buying an additional 6,437 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Nevro by 6.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 480,285 shares of the medical equipment provider’s stock valued at $38,351,000 after buying an additional 28,920 shares in the last quarter.

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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