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

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

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

Nevro Price Performance

Nevro stock opened at $5.78 on Friday. The stock’s 50 day moving average is $5.40 and its 200 day moving average is $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. The firm has a market cap of $221.60 million, a P/E ratio of -3.06 and a beta of 0.94. Nevro has a one year low of $3.17 and a one year high of $14.70.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. The company had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. As a group, research analysts expect that Nevro will post -2.44 EPS for the current year.

Institutional Investors Weigh In On Nevro

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Standard LLC purchased a new position in shares of Nevro during the third quarter valued at approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Nevro by 130.7% during the third 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 valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. Engaged Capital LLC boosted its position in shares of Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after buying an additional 557,000 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of Nevro during the fourth quarter valued at approximately $1,976,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Nevro by 20.5% during 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 buying an additional 306,943 shares during the last quarter. Institutional investors 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.