Nevro (NYSE:NVRO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a research note released on Monday morning. The firm issued a hold rating on the medical equipment provider’s stock.

NVRO has been the topic of a number of other research reports. Citigroup reduced their price target on Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and increased their target price for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Truist Financial lowered their price target on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on shares of Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nevro currently has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Price Performance

NVRO stock opened at $5.85 on Monday. The stock’s 50 day moving average price is $5.73 and its 200 day moving average price is $4.98. The firm has a market cap of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a 1 year low of $3.17 and a 1 year high of $13.42.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.15. The business had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, sell-side analysts expect that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Several large investors have recently added to or reduced their stakes in NVRO. D. E. Shaw & Co. Inc. boosted its position in shares of Nevro by 20.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after buying an additional 306,943 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock worth $5,590,000 after acquiring an additional 566,462 shares during the period. Cantor Fitzgerald L. P. purchased a new position in Nevro in the 4th quarter worth approximately $1,976,000. Nuveen Asset Management LLC grew its position in Nevro by 5.1% in the fourth quarter. Nuveen Asset Management LLC now owns 369,554 shares of the medical equipment provider’s stock valued at $1,375,000 after acquiring an additional 17,878 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Nevro by 2.5% during the fourth quarter. Northern Trust Corp now owns 358,420 shares of the medical equipment provider’s stock valued at $1,333,000 after purchasing an additional 8,745 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.