Nevro (NYSE:NVRO) Coverage Initiated by Analysts at StockNews.com

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

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

Nevro Stock Up 0.1 %

Shares of NYSE:NVRO opened at $5.85 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. The stock has a market cap of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94. Nevro has a 1-year low of $3.17 and a 1-year high of $13.84. The firm has a fifty day moving average price of $5.61 and a 200 day moving average price of $4.97.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.15. The firm had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. Sell-side analysts predict that Nevro will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Nevro

Several large investors have recently added to or reduced their stakes in NVRO. Intech Investment Management LLC purchased a new stake in Nevro in the third quarter valued at approximately $69,000. Charles Schwab Investment Management Inc. grew its stake in shares of Nevro by 3.9% during 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 buying an additional 11,369 shares during the period. Quantbot Technologies LP increased its holdings in shares of Nevro by 1,290.4% during the 3rd quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after buying an additional 13,381 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Nevro by 171.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider’s stock worth $755,000 after buying an additional 85,324 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $5,590,000 after acquiring an additional 566,462 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other 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.