Nevro Corp. (NYSE:NVRO – Get Free Report)’s share price was down 7% during mid-day trading on Friday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $15.19 and last traded at $15.36. Approximately 334,110 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 497,003 shares. The stock had previously closed at $16.51.
Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group reissued a “hold” rating and issued a $23.00 target price on shares of Nevro in a research report on Thursday, December 21st. Wells Fargo & Company dropped their target price on shares of Nevro from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday. Robert W. Baird lowered their price objective on shares of Nevro from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Nevro from $23.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, Truist Financial boosted their price objective on shares of Nevro from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.23.
Institutional Trading of Nevro
Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted its stake in shares of Nevro by 174.3% in the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 643 shares during the last quarter. UBS Group AG lifted its stake in shares of Nevro by 206.3% in the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 821 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Nevro by 26.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 668 shares during the last quarter. Assetmark Inc. raised its stake in Nevro by 30.4% during the 4th quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock valued at $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 3rd quarter valued at $132,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.
Nevro Trading Down 6.2 %
The stock has a market capitalization of $560.89 million, a price-to-earnings ratio of -6.43 and a beta of 0.94. The company’s 50 day moving average is $18.87 and its 200 day moving average is $18.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 5.01 and a current ratio of 6.55.
Nevro Company Profile
Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation system for the treatment of chronic pain, as well as Senza II and Senza Omnia SCS systems.