Nevro (NYSE:NVRO) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Nevro (NYSE:NVRO) from an underperform rating to a peer perform rating in a research report sent to investors on Thursday, Marketbeat Ratings reports.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Nevro from $17.00 to $11.00 and set a hold rating for the company in a research note on Wednesday, May 8th. Morgan Stanley dropped their price objective on shares of Nevro from $14.00 to $9.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Royal Bank of Canada reduced their target price on Nevro from $16.00 to $7.00 and set a sector perform rating for the company in a research note on Wednesday. Citigroup dropped their price target on Nevro from $9.00 to $8.20 and set a sell rating on the stock in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company cut Nevro from an equal weight rating to an underweight rating and reduced their price objective for the company from $13.00 to $5.50 in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, Nevro currently has an average rating of Hold and a consensus price target of $10.63.

Nevro Trading Up 6.0 %

NVRO traded up $0.34 during trading on Thursday, reaching $6.01. 1,729,642 shares of the stock traded hands, compared to its average volume of 567,455. The stock’s 50-day moving average is $8.82 and its 200 day moving average is $11.91. Nevro has a 12 month low of $4.38 and a 12 month high of $22.64. The company has a quick ratio of 5.57, a current ratio of 7.38 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $220.74 million, a PE ratio of -2.62 and a beta of 0.91.

Nevro (NYSE:NVRO) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.10. The company had revenue of $104.16 million for the quarter, compared to analyst estimates of $107.11 million. Nevro had a negative return on equity of 27.48% and a negative net margin of 19.17%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.69) EPS. Equities analysts anticipate that Nevro will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVRO. Goldman Sachs Group Inc. grew its position in Nevro by 69.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after purchasing an additional 431,136 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after acquiring an additional 605,134 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Nevro by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 720,529 shares of the medical equipment provider’s stock worth $15,506,000 after acquiring an additional 3,086 shares during the period. Federated Hermes Inc. boosted its position in Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock worth $9,278,000 after purchasing an additional 341,343 shares during the last quarter. Finally, Norges Bank bought a new position in Nevro in the 4th quarter valued at $8,498,000. 95.52% of the stock is owned by institutional investors.

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.