StockNews.com Begins Coverage on Nevro (NYSE:NVRO)

Equities research analysts at StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group increased their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and raised their target price for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Citigroup decreased their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $9.00 to $4.00 in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.43.

Nevro Trading Up 0.1 %

Shares of NVRO stock opened at $5.80 on Friday. The stock has a market cap of $222.37 million, a price-to-earnings ratio of -3.07 and a beta of 0.94. The stock has a 50-day moving average of $5.18 and a 200-day moving average of $4.94. 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 has a 1-year low of $3.17 and a 1-year high of $14.70.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.15. The company had revenue of $105.55 million during 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, equities research analysts forecast that Nevro will post -2.44 earnings per share for the current year.

Institutional Trading of Nevro

Large investors have recently bought and sold shares of the company. Amundi purchased a new stake in Nevro in the fourth quarter worth $30,000. Oxford Asset Management LLP purchased a new stake in Nevro in the fourth quarter worth $39,000. Corton Capital Inc. purchased a new stake in Nevro in the fourth quarter worth $43,000. Headlands Technologies LLC purchased a new stake in Nevro in the fourth quarter worth $45,000. Finally, Ieq Capital LLC purchased a new position in shares of Nevro in the fourth quarter valued at $46,000. 95.52% of the stock is 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.