Nevro (NVRO) Sees Strong Trading Volume

Shares of Nevro Corp (NYSE:NVRO) saw an uptick in trading volume on Wednesday . 7,490,421 shares were traded during trading, an increase of 901% from the previous session’s volume of 748,334 shares.The stock last traded at $60.74 and had previously closed at $44.77.

Several brokerages recently issued reports on NVRO. Morgan Stanley upgraded Nevro to an “overweight” rating in a research note on Wednesday. Wells Fargo & Co upgraded Nevro from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday. Canaccord Genuity restated a “buy” rating and set a $62.00 price objective (up from $46.00) on shares of Nevro in a research note on Wednesday. Bank of America upgraded Nevro from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $70.00 in a research note on Wednesday. Finally, BMO Capital Markets upgraded Nevro from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $67.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Nevro has an average rating of “Hold” and a consensus price target of $60.00.

The company has a quick ratio of 5.64, a current ratio of 7.11 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.35 billion, a PE ratio of -37.04 and a beta of 0.14.



Nevro (NYSE:NVRO) last posted its earnings results on Thursday, February 21st. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). The company had revenue of $107.90 million during the quarter, compared to the consensus estimate of $107.39 million. Nevro had a negative net margin of 12.70% and a negative return on equity of 20.13%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. On average, sell-side analysts expect that Nevro Corp will post -2.31 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of NVRO. Point72 Asset Management L.P. lifted its stake in Nevro by 1,654.5% in the third quarter. Point72 Asset Management L.P. now owns 1,490,642 shares of the medical equipment provider’s stock valued at $84,967,000 after buying an additional 1,405,680 shares during the last quarter. Norges Bank bought a new stake in Nevro in the fourth quarter valued at $36,675,000. D. E. Shaw & Co. Inc. lifted its stake in Nevro by 225.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,316,090 shares of the medical equipment provider’s stock valued at $51,183,000 after buying an additional 911,332 shares during the last quarter. Franklin Resources Inc. lifted its stake in Nevro by 32.2% in the third quarter. Franklin Resources Inc. now owns 2,311,505 shares of the medical equipment provider’s stock valued at $131,763,000 after buying an additional 562,933 shares during the last quarter. Finally, Partner Fund Management L.P. bought a new stake in Nevro in the fourth quarter valued at $21,627,000.

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Nevro Company Profile (NYSE:NVRO)

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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