Nevro Target of Unusually High Options Trading (NVRO)

Nevro Corp (NYSE:NVRO) was the target of unusually large options trading activity on Monday. Stock investors bought 862 put options on the company. This is an increase of 1,005% compared to the typical daily volume of 78 put options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its stake in shares of Nevro by 64.5% during the fourth quarter. Advisor Group Inc. now owns 921 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 361 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Nevro by 3.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,679 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 525 shares in the last quarter. Bellevue Group AG boosted its stake in Nevro by 1.3% in the fourth quarter. Bellevue Group AG now owns 81,438 shares of the medical equipment provider’s stock valued at $3,167,000 after acquiring an additional 1,023 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Nevro in the fourth quarter valued at approximately $113,000. Finally, Legal & General Group Plc boosted its stake in Nevro by 31.2% in the fourth quarter. Legal & General Group Plc now owns 12,886 shares of the medical equipment provider’s stock valued at $502,000 after acquiring an additional 3,065 shares in the last quarter.

NVRO has been the topic of a number of research reports. Canaccord Genuity raised their target price on shares of Nevro from $46.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Bank of America raised shares of Nevro from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $70.00 in a research report on Wednesday, March 20th. Zacks Investment Research raised shares of Nevro from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, January 9th. Northland Securities reaffirmed a “hold” rating and set a $48.00 target price on shares of Nevro in a research report on Friday, January 11th. Finally, ValuEngine raised shares of Nevro from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Nevro currently has an average rating of “Hold” and a consensus price target of $62.67.

NYSE NVRO opened at $64.11 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.64 and a current ratio of 7.11. Nevro has a 52-week low of $34.75 and a 52-week high of $94.34. The company has a market cap of $2.00 billion, a PE ratio of -39.09 and a beta of 0.21.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Thursday, February 21st. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.15). Nevro had a negative net margin of 12.70% and a negative return on equity of 20.13%. The business had revenue of $107.90 million for the quarter, compared to the consensus estimate of $107.39 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Nevro’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Nevro will post -2.31 earnings per share for the current year.

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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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