Nevro Corp (NYSE:NVRO) Short Interest Update

Nevro Corp (NYSE:NVRO) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 4,086,300 shares, an increase of 6.0% from the April 30th total of 3,853,900 shares. Currently, 14.1% of the shares of the company are short sold. Based on an average trading volume of 651,000 shares, the short-interest ratio is currently 6.3 days.

NVRO traded up $0.07 during trading on Friday, reaching $64.34. 219,732 shares of the stock traded hands, compared to its average volume of 265,620. The company has a quick ratio of 4.87, a current ratio of 6.30 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.96 billion, a PE ratio of -39.23 and a beta of 0.29. The company has a 50-day simple moving average of $62.29. Nevro has a 12 month low of $34.75 and a 12 month high of $68.94.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($1.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.79). The firm had revenue of $82.10 million for the quarter, compared to the consensus estimate of $87.47 million. Nevro had a negative net margin of 19.79% and a negative return on equity of 31.84%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted ($0.59) EPS. Equities research analysts anticipate that Nevro will post -3.83 EPS for the current fiscal year.

Several research analysts have commented on the stock. Wells Fargo & Co lowered their price objective on shares of Nevro from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. JMP Securities lowered their price objective on shares of Nevro from $80.00 to $70.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Canaccord Genuity lowered their price objective on shares of Cronos Group from C$17.00 to C$16.00 in a research report on Friday, May 10th. BMO Capital Markets upgraded shares of Nevro from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $46.00 to $67.00 in a research report on Tuesday, March 19th. Finally, Bank of America boosted their price objective on shares of Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $57.83.

In other Nevro news, Director Elizabeth H. Weatherman purchased 2,460 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $60.99 per share, for a total transaction of $150,035.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin C. Oboyle purchased 1,675 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $100,500.00. The disclosure for this purchase can be found here. Insiders own 7.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NVRO. Advisor Group Inc. increased its stake in Nevro by 64.5% in the 4th quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 361 shares during the last quarter. Redmile Group LLC bought a new position in Nevro in the 1st quarter valued at $213,000. Financial Counselors Inc. bought a new position in Nevro in the 1st quarter valued at $238,000. JGP Global Gestao de Recursos Ltda. bought a new position in Nevro in the 1st quarter valued at $262,000. Finally, Partner Investment Management L.P. bought a new position in Nevro in the 4th quarter valued at $267,000.

Nevro Company Profile

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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