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

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

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and raised their price target for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Citigroup decreased their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a report on Friday, February 7th. Finally, Truist Financial lowered their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.43.

Nevro Stock Up 0.1 %

NVRO stock opened at $5.85 on Friday. Nevro has a 1-year low of $3.17 and a 1-year high of $14.43. The stock has a market cap of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94. The stock’s fifty day simple moving average is $5.56 and its two-hundred day simple moving average is $4.96. 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 posted 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 analyst estimates of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. Analysts expect that Nevro will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Nevro

Large investors have recently modified their holdings of the company. Amundi bought a new position in Nevro in the 4th quarter valued at $30,000. Oxford Asset Management LLP bought a new stake in Nevro during the fourth quarter valued at $39,000. Corton Capital Inc. purchased a new position in Nevro during the fourth quarter worth about $43,000. Headlands Technologies LLC bought a new position in Nevro in the 4th quarter worth about $45,000. Finally, Ieq Capital LLC bought a new position in Nevro in the 4th quarter worth about $46,000. 95.52% of the stock is currently owned by institutional investors.

About Nevro

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.