Nevro (NYSE:NVRO) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the medical equipment provider’s stock.

NVRO has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective 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. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research note on Monday, December 2nd. Citigroup reduced their price objective on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nevro has an average rating of “Hold” and an average target price of $6.43.

Nevro Stock Performance

NVRO stock opened at $5.80 on Friday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $222.37 million, a price-to-earnings ratio of -3.07 and a beta of 0.94. Nevro has a 12 month low of $3.17 and a 12 month high of $14.70. The firm has a 50 day moving average of $5.18 and a two-hundred day moving average of $4.95.

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

Institutional Investors Weigh In On Nevro

Several institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP increased its holdings in Nevro by 39.9% in the 4th quarter. Two Sigma Investments LP now owns 219,319 shares of the medical equipment provider’s stock valued at $816,000 after buying an additional 62,568 shares during the period. State of Wyoming increased its holdings in Nevro by 55.6% in the 4th quarter. State of Wyoming now owns 31,043 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 11,091 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in Nevro in the 4th quarter valued at $136,000. Nuveen Asset Management LLC increased its holdings in Nevro by 5.1% in the 4th quarter. Nuveen Asset Management LLC now owns 369,554 shares of the medical equipment provider’s stock valued at $1,375,000 after buying an additional 17,878 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Nevro by 20.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after buying an additional 306,943 shares during the period. Institutional investors 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.