Nevro Sees Unusually Large Options Volume (NYSE:NVRO)

Nevro Corp (NYSE:NVRO) was the recipient of unusually large options trading activity on Thursday. Investors purchased 519 call options on the company. This is an increase of 780% compared to the average volume of 59 call options.

A number of institutional investors and hedge funds have recently made changes to their positions in NVRO. Quantamental Technologies LLC acquired a new position in shares of Nevro during the second quarter valued at $75,000. Prudential Financial Inc. acquired a new position in shares of Nevro during the second quarter valued at $202,000. Redmile Group LLC acquired a new position in shares of Nevro during the first quarter valued at $213,000. Aperio Group LLC acquired a new position in shares of Nevro during the second quarter valued at $227,000. Finally, Financial Counselors Inc. acquired a new position in shares of Nevro during the first quarter valued at $238,000.

NYSE NVRO traded up $2.72 on Friday, reaching $81.55. The company had a trading volume of 335,684 shares, compared to its average volume of 321,788. The firm has a market capitalization of $2.36 billion, a PE ratio of -49.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 6.05 and a quick ratio of 4.66. The firm has a 50-day moving average of $85.09 and a 200-day moving average of $69.46. Nevro has a 1 year low of $34.75 and a 1 year high of $91.60.

Nevro (NYSE:NVRO) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.02). Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The business had revenue of $93.60 million for the quarter, compared to analysts’ expectations of $88.40 million. During the same quarter last year, the company posted ($0.35) earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Nevro will post -3.87 EPS for the current fiscal year.

Several research firms have issued reports on NVRO. Morgan Stanley set a $76.00 price objective on shares of Nevro and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research raised shares of Nevro from a “sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research note on Tuesday, August 13th. Northland Securities set a $65.00 price objective on shares of Nevro and gave the company a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity increased their target price on shares of Nevro from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Leerink Swann set a $98.00 target price on shares of Nevro and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $67.17.

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.

Featured Article: What are the components of an earnings report?

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.