Nevro (NYSE:NVRO) Upgraded at StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research note released on Tuesday morning.

A number of other analysts have also recently weighed in on NVRO. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Robert W. Baird raised their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wolfe Research upgraded Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Finally, JMP Securities restated a “market perform” rating on shares of Nevro in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.10.

Nevro Trading Up 4.8 %

Nevro stock opened at $4.43 on Tuesday. The business’s 50-day simple moving average is $5.14 and its 200-day simple moving average is $7.18. Nevro has a 52 week low of $3.95 and a 52 week high of $22.64. The firm has a market capitalization of $166.16 million, a PE ratio of -2.24 and a beta of 0.93. 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 (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.40. The company had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.65) EPS. Equities research analysts forecast that Nevro will post -2.43 earnings per share for the current year.

Institutional Investors Weigh In On Nevro

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the period. Virtu Financial LLC acquired a new stake in Nevro in the third quarter worth $63,000. Intech Investment Management LLC bought a new position in shares of Nevro during the third quarter worth $69,000. SG Americas Securities LLC acquired a new position in shares of Nevro in the 3rd quarter valued at $71,000. Finally, Quantbot Technologies LP increased its position in shares of Nevro by 1,290.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after buying an additional 13,381 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

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.