Nevro (NYSE:NVRO) Research Coverage Started at StockNews.com

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

Several other research firms have also recently issued reports on NVRO. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird upped their price objective on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Truist Financial lowered their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.43.

Nevro Trading Down 0.1 %

NVRO opened at $5.73 on Wednesday. The business has a fifty day moving average price of $4.74 and a 200 day moving average price of $4.93. The stock has a market capitalization of $214.53 million, a price-to-earnings ratio of -3.03 and a beta of 0.91. Nevro has a 12 month low of $3.16 and a 12 month high of $15.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76.

Institutional Trading of Nevro

A number of large investors have recently made changes to their positions in NVRO. Western Standard LLC purchased a new stake in Nevro during the 3rd quarter valued at approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Nevro by 130.7% during 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 valued at $5,590,000 after acquiring an additional 566,462 shares during the last quarter. Engaged Capital LLC raised its stake in Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after acquiring an additional 557,000 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Nevro during the 4th quarter valued at approximately $1,976,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Nevro by 20.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after acquiring an additional 306,943 shares during the last quarter. 95.52% of the stock is 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.