Nevro (NYSE:NVRO) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Nevro (NYSE:NVROFree Report) from a neutral rating to an overweight rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $5.85 target price on the medical equipment provider’s stock, down from their previous target price of $6.00.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group lowered their target price on shares of Nevro from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. Morgan Stanley lowered Nevro from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $9.00 to $4.00 in a report on Monday, December 2nd. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Truist Financial decreased their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.49.

Check Out Our Latest Analysis on Nevro

Nevro Stock Performance

NVRO stock opened at $5.72 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro has a twelve month low of $3.16 and a twelve month high of $17.75. The business’s fifty day moving average is $4.27 and its 200-day moving average is $5.24.

Nevro (NYSE:NVROGet Free Report) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.65) earnings per share. Research analysts predict that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Trading of Nevro

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nevro by 130.7% in 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 purchasing an additional 566,462 shares in the last quarter. Western Standard LLC acquired a new position in shares of Nevro during the 3rd quarter worth about $5,473,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Nevro by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after acquiring an additional 11,369 shares in the last quarter. Engaged Capital LLC increased its position in shares of Nevro by 29.5% in 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 acquiring an additional 557,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Nevro by 27.6% during the third quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock worth $5,195,000 after acquiring an additional 200,885 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About Nevro

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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.

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Analyst Recommendations for Nevro (NYSE:NVRO)

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