Is Nevro (NYSE:NVRO) Now a Sell? Wells Fargo Downgrades Stock

Marco Green
May 9, 2018

While the stock also landed on the SSR list, there are now 3.67 million shares dedicated to these bearish bets - a healthy 12.7% of Nevro's available float. Nevro has developed and commercialized the Senza (R) spinal cord stimulation (SCS) system for the treatment of chronic pain.

Several large investors have recently added to or reduced their stakes in NVRO.

Earnings report for Nevro Corp. The company has a current ratio of 7.61, a quick ratio of 5.91 and a debt-to-equity ratio of 0.58. This year's earnings per share analyst estimate is awaited to be $-0.34. And while Canaccord Genuity was one of three firms to lower its price target - to $102 from $110 - the brokerage said it could be time to buy the dip. (NYSE:NVRO) to report $-0.34 EPS on May, 14.They anticipate $0.16 EPS change or 32.00 % from last quarter's $-0.5 EPS.

In fact, today's weakness runs counter to the stock's longer-term technical performance, with NVRO surging more than 45% from its December lows near $65 to yesterday's annual high of $94.34. The shares were sold at an average price of $80.77, for a total value of $12,966,977.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Other analysts have also recently issued research reports about the company. The stock now has a consensus rating of "Hold" and an average target price of $97.44. Following the transaction, the director now owns 1,518 shares in the company, valued at approximately $126,419.04.

More important recent Nevro Corp. Nevro had a negative net margin of 11.22% and a negative return on equity of 15.01%. The business had revenue of $97.96 million during the quarter, compared to analyst estimates of $96.87 million.

On 2/27/2018 Wilfred E Jaeger, Director, sold 14,458 with an average share price of $83.28 per share and the total transaction amounting to $1,204,062.24. The disclosure for this sale can be found here. During the same period in the previous year, the business posted ($0.34) earnings per share. Insiders own 12.10% of the company's stock. Swiss National Bank boosted its holdings in Nevro by 2.5% during the first quarter. MA boosted its holdings in Nevro by 0.9% during the first quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Nevro by 50.0% in the fourth quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Nevro in the 4th quarter valued at about $160,000. Castine Capital Management Llc owns 153,639 shares or 2.79% of their USA portfolio. Point72 Asset Management L.P. now owns 542,952 shares of the medical equipment provider's stock worth $49,343,000 after buying an additional 141,963 shares during the last quarter. OppenheimerFunds Inc. now owns 900,594 shares of the medical equipment provider's stock worth $62,177,000 after purchasing an additional 300,064 shares during the period.

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