RBC Capital Downgrades Nevro Corp (NVRO) to Sector Perform, 'Checks Suggest Transition May Take Longer To Pan Out'

RBC Capital analyst Shagun Singh downgraded Nevro Corp (NYSE: NVRO) from Outperform to Sector Perform with a price target of $20.00 (from $23.00).

The analyst comments "We are revising our rating on NVRO as we favor “quality with catalysts” and “profitable growth” within the SMID-caps. We believe NVRO is progressing under its new leadership; however, our latest checks have been more cautious, noting that the salesforce turnaround may take longer to pan out, competitive dynamics are at play, and the HFX iQ value proposition harder to see even though the PDN opportunity remains solidly intact. In light of the moving pieces and relative positioning, we are downgrading NVRO to Sector Perform and our PT to $20 (from $23)."

For an analyst ratings summary and ratings history on Nevro Corp click here. For more ratings news on Nevro Corp click here.

Shares of Nevro Corp closed at $18.72 yesterday.

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