Nevro (NYSE:NVRO) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada decreased their target price on Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Robert W. Baird decreased their price objective on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Piper Sandler cut their target price on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.55.

Nevro Stock Up 1.0 %

Shares of NYSE:NVRO opened at $4.90 on Thursday. The business has a 50-day moving average price of $5.35 and a 200 day moving average price of $8.17. Nevro has a 12-month low of $4.38 and a 12-month high of $22.64. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $182.67 million, a price-to-earnings ratio of -2.28 and a beta of 0.94.

Nevro (NYSE:NVRO) last posted its 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 net margin of 18.17% and a negative return on equity of 24.89%. The firm had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter last year, the firm earned ($0.69) EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that Nevro will post -2.6 EPS for the current year.

Institutional Trading of Nevro

A number of large investors have recently bought and sold shares of NVRO. Armistice Capital LLC boosted its stake in shares of Nevro by 1.3% during the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock worth $30,918,000 after buying an additional 48,000 shares during the period. Millennium Management LLC increased its holdings in shares of Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after purchasing an additional 168,573 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 200,885 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Nevro by 5.0% during the second quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock worth $3,099,000 after purchasing an additional 17,600 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Nevro by 154.1% in the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after buying an additional 146,276 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.