Nevro (NYSE:NVRO) Downgraded to "Underweight" Rating by Morgan Stanley

Morgan Stanley cut shares of Nevro (NYSE:NVRO - Free Report) from an equal weight rating to an underweight rating in a report released on Monday, MarketBeat.com reports. The firm currently has $4.00 price objective on the medical equipment provider's stock, down from their previous price objective of $9.00.

Several other equities research analysts also recently commented on the company. Wolfe Research raised Nevro from an "underperform" rating to a "peer perform" rating in a report on Thursday, August 8th. StockNews.com raised shares of Nevro from a "sell" rating to a "hold" rating in a research report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $7.00 target price on shares of Nevro in a report on Tuesday, November 12th. Wells Fargo & Company cut shares of Nevro from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price objective on Nevro from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $8.60.

Nevro Stock Down 7.2 %

Shares of NYSE:NVRO traded down $0.33 during midday trading on Monday, reaching $4.27. The company's stock had a trading volume of 535,937 shares, compared to its average volume of 567,991. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $4.97 and a 200-day moving average of $6.86. The firm has a market capitalization of $160.00 million, a P/E ratio of -2.43 and a beta of 0.93. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64.

Nevro (NYSE:NVRO - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business had revenue of $96.60 million for the quarter, compared to analysts' expectations of $93.09 million. During the same quarter in the prior year, the company earned ($0.65) earnings per share. The business's revenue was down 7.0% compared to the same quarter last year. On average, research analysts anticipate that Nevro will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVRO. Rhumbline Advisers lifted its stake in shares of Nevro by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider's stock worth $497,000 after purchasing an additional 2,836 shares during the period. Nisa Investment Advisors LLC raised its position in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider's stock worth $58,000 after acquiring an additional 6,565 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider's stock worth $651,000 after acquiring an additional 7,004 shares during the last quarter. Blair William & Co. IL grew its position in shares of Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider's stock valued at $500,000 after acquiring an additional 7,250 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider's stock worth $90,000 after purchasing an additional 8,300 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Nevro Company Profile

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.