Nevro (NVRO) Cut to “Sell” at Goldman Sachs Group
Goldman Sachs Group downgraded shares of Nevro (NYSE:NVRO) from a neutral rating to a sell rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have $44.00 price objective on the medical equipment provider’s stock, down from their previous price objective of $60.00.
A number of other brokerages have also issued reports on NVRO. Morgan Stanley lowered shares of Nevro from an overweight rating to an equal weight rating and set a $95.00 target price on the stock. in a research report on Monday, July 2nd. Zacks Investment Research lowered shares of Nevro from a hold rating to a sell rating in a research report on Tuesday, July 10th. ValuEngine lowered shares of Nevro from a hold rating to a sell rating in a research report on Thursday, July 5th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Nevro in a research report on Wednesday, July 11th. Finally, BMO Capital Markets dropped their target price on shares of Nevro from $80.00 to $76.00 and set an outperform rating on the stock in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $77.56.
Shares of NVRO stock opened at $50.30 on Friday. Nevro has a 1 year low of $35.41 and a 1 year high of $94.34. The firm has a market cap of $1.51 billion, a P/E ratio of -40.24 and a beta of -0.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.29 and a current ratio of 8.06.
A number of institutional investors and hedge funds have recently bought and sold shares of NVRO. Ladenburg Thalmann Financial Services Inc. boosted its stake in Nevro by 69.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,432 shares of the medical equipment provider’s stock worth $210,000 after buying an additional 999 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Nevro during the second quarter worth $223,000. Redmile Group LLC acquired a new stake in Nevro during the second quarter worth $271,000. Xact Kapitalforvaltning AB acquired a new stake in Nevro during the first quarter worth $300,000. Finally, UBS Group AG boosted its stake in Nevro by 38.0% during the first quarter. UBS Group AG now owns 5,479 shares of the medical equipment provider’s stock worth $474,000 after buying an additional 1,509 shares in the last quarter.
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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