Nevro (NVRO) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Nevro (NYSE:NVRO) from a hold rating to a sell rating in a report published on Thursday.

A number of other brokerages have also recently commented on NVRO. Zacks Investment Research cut Nevro from a hold rating to a sell rating in a research note on Wednesday, February 28th. Canaccord Genuity reduced their price objective on Nevro from $110.00 to $102.00 and set a buy rating on the stock in a research note on Tuesday, May 8th. Northland Securities cut Nevro from an outperform rating to a market perform rating in a research note on Tuesday, May 8th. Wells Fargo cut Nevro from an outperform rating to a market perform rating in a research note on Tuesday, May 8th. Finally, JMP Securities restated an overweight rating and set a $105.00 price objective (down previously from $120.00) on shares of Nevro in a research note on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $98.78.

NVRO stock opened at $73.07 on Thursday. Nevro has a 12-month low of $65.00 and a 12-month high of $94.34. The company has a quick ratio of 6.17, a current ratio of 7.99 and a debt-to-equity ratio of 0.61.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Nevro had a negative net margin of 11.53% and a negative return on equity of 16.32%. The firm had revenue of $97.96 million for the quarter, compared to analysts’ expectations of $96.87 million. During the same period last year, the firm posted ($0.34) EPS. Nevro’s revenue was up 38.9% on a year-over-year basis. equities research analysts forecast that Nevro will post -1.2 EPS for the current fiscal year.

In related news, CFO Andrew H. Galligan sold 7,000 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $76.14, for a total value of $532,980.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wilfred E. Jaeger sold 14,458 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $83.28, for a total value of $1,204,062.24. Following the completion of the transaction, the director now owns 1,518 shares in the company, valued at approximately $126,419.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,116 shares of company stock worth $19,446,802. Insiders own 6.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Nevro by 285.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 160,040 shares of the medical equipment provider’s stock worth $11,049,000 after acquiring an additional 118,486 shares in the last quarter. Jefferies Group LLC acquired a new stake in Nevro during the fourth quarter valued at approximately $653,000. First Manhattan Co. acquired a new stake in Nevro during the fourth quarter valued at approximately $15,630,000. Comgest Global Investors S.A.S. acquired a new stake in Nevro during the fourth quarter valued at approximately $2,720,000. Finally, Peregrine Capital Management LLC raised its stake in Nevro by 39.0% during the fourth quarter. Peregrine Capital Management LLC now owns 421,896 shares of the medical equipment provider’s stock valued at $29,128,000 after buying an additional 118,436 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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