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

Research analysts at StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a research note issued on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.

Several other equities analysts also recently commented on NVRO. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $6.00 to $5.85 in a research report on Friday, February 7th. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and upped their price target for the stock from $4.50 to $5.85 in a report on Monday, February 10th. Citigroup decreased their price objective on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $9.00 to $4.00 in a research note on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.43.

Nevro Trading Down 0.1 %

Shares of NVRO opened at $5.78 on Friday. The company’s fifty day simple moving average is $5.40 and its 200-day simple moving average is $4.93. The company has a market cap of $221.60 million, a P/E ratio of -3.06 and a beta of 0.94. 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 twelve month low of $3.17 and a twelve month high of $14.70.

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

Institutional Investors Weigh In On Nevro

A number of institutional investors have recently added to or reduced their stakes in NVRO. Amundi purchased a new stake in shares of Nevro during the fourth quarter valued at about $30,000. Oxford Asset Management LLP purchased a new stake in Nevro during the fourth quarter valued at approximately $39,000. Virtu Financial LLC purchased a new stake in Nevro during the third quarter valued at approximately $63,000. Corton Capital Inc. acquired a new stake in Nevro in the fourth quarter valued at approximately $43,000. Finally, Headlands Technologies LLC purchased a new position in Nevro in the fourth quarter worth $45,000. 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.