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

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

Several other analysts have also commented on the stock. Citigroup reduced their price target on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley downgraded Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Wells Fargo & Company lowered their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Nevro has an average rating of “Hold” and a consensus price target of $6.43.

Nevro Stock Performance

NYSE:NVRO opened at $5.85 on Friday. The company has a market cap of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94. Nevro has a twelve month low of $3.17 and a twelve month high of $13.84. The company’s 50-day moving average price is $5.61 and its 200-day moving average price is $4.97. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last issued its 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 business had revenue of $105.55 million for the quarter, compared to analysts’ expectations 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 forecast that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of Nevro

A number of large investors have recently made changes to their positions in the company. Western Standard LLC acquired a new stake in shares of Nevro in the 3rd quarter valued at $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 worth $5,590,000 after acquiring an additional 566,462 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in Nevro in the fourth quarter valued at approximately $1,976,000. D. E. Shaw & Co. Inc. increased its stake in 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 valued at $6,709,000 after purchasing an additional 306,943 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Nevro by 50.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after buying an additional 246,979 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other 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.