Nevro (NYSE:NVRO) Raised to “Hold” at StockNews.com

Nevro (NYSE:NVRO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts have also recently commented on NVRO. Royal Bank of Canada lowered their price objective on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley lowered their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.80.

Nevro Stock Performance

NVRO stock opened at $5.53 on Friday. The business’s fifty day moving average is $5.31 and its 200-day moving average is $7.80. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The company has a market cap of $206.16 million, a P/E ratio of -2.60 and a beta of 0.93. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64.

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

Institutional Investors Weigh In On Nevro

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 8,300 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Nevro by 14.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after acquiring an additional 1,430 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Nevro during the third quarter worth approximately $71,000. Finally, XTX Topco Ltd lifted its position in Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 11,323 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.