Nevro (NYSE:NVRO) Upgraded at StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research note released on Monday morning.

NVRO has been the topic of a number of other research reports. Morgan Stanley cut their price objective on shares of Nevro from $14.00 to $9.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company lowered 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, August 7th. JMP Securities downgraded Nevro from an outperform rating to a market perform rating in a research note on Wednesday, August 7th. Wolfe Research upgraded Nevro from an underperform rating to a peer perform rating in a research report on Thursday, August 8th. Finally, Citigroup upgraded Nevro from a sell rating to a neutral rating and set a $6.89 price objective on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, Nevro presently has an average rating of Hold and a consensus price target of $10.55.

Nevro Price Performance

NYSE NVRO opened at $5.16 on Monday. The company has a market cap of $189.52 million, a price-to-earnings ratio of -2.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The stock’s fifty day moving average price is $6.31 and its 200 day moving average price is $9.14. Nevro has a 1 year low of $4.38 and a 1 year 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 the consensus estimate of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The business had revenue of $104.16 million for the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the previous year, the business earned ($0.69) EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Nevro will post -2.6 earnings per share for the current year.

Institutional Investors Weigh In On Nevro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in shares of Nevro by 490.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after purchasing an additional 605,134 shares during the period. Goldman Sachs Group Inc. boosted its stake in Nevro by 69.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,026 shares of the medical equipment provider’s stock worth $22,554,000 after buying an additional 431,136 shares during the period. Norges Bank acquired a new stake in shares of Nevro during the fourth quarter valued at about $8,498,000. Millennium Management LLC raised its stake in shares of Nevro by 21.4% in the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after acquiring an additional 168,573 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Nevro by 3,446.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after acquiring an additional 148,200 shares during the last quarter. Institutional investors and hedge funds 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.