StockNews.com Upgrades Nevro (NYSE:NVRO) to Hold

Nevro (NYSE:NVRO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages also recently commented on NVRO. Truist Financial lowered their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their target price on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Piper Sandler reduced their target price on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, Nevro currently has a consensus rating of “Hold” and an average target price of $9.80.

Nevro Trading Down 4.9 %

Shares of NYSE:NVRO opened at $5.08 on Friday. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The business has a fifty day simple moving average of $5.25 and a 200-day simple moving average of $7.53.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Nevro by 490.7% during 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 buying an additional 605,134 shares during the period. Millennium Management LLC boosted its position in shares of Nevro by 21.4% during the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after buying an additional 168,573 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after buying an additional 148,200 shares during the period. Acadian Asset Management LLC boosted its position in shares of Nevro by 154.1% during the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 146,276 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Nevro during the first quarter worth approximately $1,446,000. 95.52% of the stock is owned by 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.