Nevro (NYSE:NVRO) Now Covered by StockNews.com

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

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. JMP Securities reissued a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $4.50 to $5.85 in a research report on Monday, February 10th. 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. Finally, 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. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.43.

Nevro Stock Performance

NYSE NVRO opened at $5.78 on Thursday. Nevro has a 1-year low of $3.17 and a 1-year high of $15.25. The company has a market capitalization of $216.40 million, a P/E ratio of -3.06 and a beta of 0.94. The business has a 50 day moving average price of $4.97 and a 200 day moving average price of $4.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76.

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, topping the consensus estimate of ($0.79) by $0.15. The company had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. Sell-side analysts expect that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC boosted its holdings in Nevro by 7.2% in the fourth quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock valued at $228,000 after acquiring an additional 4,120 shares during the last quarter. American Century Companies Inc. boosted its holdings in Nevro by 12.9% in the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after acquiring an additional 4,224 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Nevro by 34.6% in the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 4,406 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Nevro by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock valued at $80,000 after acquiring an additional 4,971 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in Nevro by 59.9% in the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock valued at $67,000 after acquiring an additional 6,725 shares during the last quarter. Institutional investors and hedge funds 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.