StockNews.com Upgrades Nevro (NYSE:NVRO) to Hold

Nevro (NYSE:NVRO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on NVRO. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Citigroup decreased their price target on Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Canaccord Genuity Group decreased their target price on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Piper Sandler decreased their target price on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $5.50 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.10.

Nevro Price Performance

Shares of NVRO opened at $4.23 on Tuesday. The stock has a market cap of $158.50 million, a PE ratio of -2.24 and a beta of 0.93. The business has a 50-day simple moving average of $5.15 and a two-hundred day simple moving average of $7.20. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64.

Nevro (NYSE:NVRO) last issued its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.40. The company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. Analysts anticipate that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVRO. State Board of Administration of Florida Retirement System lifted its holdings in shares of Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Nevro by 35.8% in the first quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after purchasing an additional 13,750 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Nevro by 48.2% in the first quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock valued at $1,369,000 after purchasing an additional 30,863 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Nevro by 490.7% in 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 purchasing an additional 605,134 shares in the last quarter. Institutional investors 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.