Nevro (NYSE:NVRO) Upgraded to Hold at StockNews.com

Nevro (NYSE:NVRO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other research firms have also commented on NVRO. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. JMP Securities lowered shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Piper Sandler reduced their price objective on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird reduced their price target on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, Nevro currently has an average rating of “Hold” and a consensus price target of $10.55.

Nevro Trading Down 5.0 %

NVRO opened at $4.90 on Thursday. The stock has a market capitalization of $182.49 million, a PE ratio of -2.30 and a beta of 0.94. The firm’s fifty day moving average price is $5.37 and its 200 day moving average price is $8.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. Nevro has a 12-month low of $4.38 and a 12-month high of $22.64.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The company had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.69) earnings per share. As a group, research analysts expect that Nevro will post -2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after purchasing an additional 605,134 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Nevro by 3,446.5% in the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock valued at $1,284,000 after buying an additional 148,200 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after buying an additional 146,276 shares in the last quarter. Millennium Management LLC increased its stake in shares of Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after buying an additional 168,573 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after buying an additional 7,004 shares in 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.