StockNews.com Initiates Coverage on Nevro (NYSE:NVRO)

StockNews.com began coverage on shares of Nevro (NYSE:NVRO) in a report issued on Wednesday morning. The firm issued a hold rating on the medical equipment provider’s stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and lifted their price target for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Finally, 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 research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Nevro has an average rating of “Hold” and a consensus price target of $5.36.

Nevro Price Performance

Shares of NVRO opened at $5.85 on Wednesday. The stock has a 50 day simple moving average of $5.80 and a 200 day simple moving average of $5.03. Nevro has a 52-week low of $3.17 and a 52-week high of $13.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The firm has a market capitalization of $224.32 million, a PE ratio of -3.09 and a beta of 0.81.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.15. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The company had revenue of $105.55 million during the quarter, compared to analysts’ expectations of $102.61 million. Sell-side analysts predict that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NVRO. Amundi acquired a new stake in Nevro during the 4th quarter valued at $30,000. Oxford Asset Management LLP bought a new position in shares of Nevro in the fourth quarter valued at about $39,000. GAMMA Investing LLC acquired a new stake in shares of Nevro during the 1st quarter worth about $39,000. Corton Capital Inc. bought a new stake in shares of Nevro during the 4th quarter worth about $43,000. Finally, Headlands Technologies LLC acquired a new position in Nevro in the 4th quarter valued at about $45,000. 95.52% of the stock is currently owned by institutional investors.

Nevro Company Profile

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.