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

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

A number of other equities research analysts also recently commented on the company. Truist Financial decreased their target price on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Robert W. Baird decreased their price target on Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Citigroup raised Nevro from a “sell” rating to a “neutral” rating and set a $6.89 price target for the company in a report on Friday, August 9th. Finally, Morgan Stanley decreased their price target on Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Three investment 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, the company has an average rating of “Hold” and an average price target of $10.63.

Nevro Stock Up 5.5 %

Shares of NVRO stock traded up $0.29 during trading hours on Monday, reaching $5.58. 699,621 shares of the company’s stock were exchanged, compared to its average volume of 575,474. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64. The stock has a market cap of $204.95 million, a PE ratio of -2.44 and a beta of 0.94. The stock’s fifty day moving average price is $6.48 and its two-hundred day moving average price is $9.26.

Nevro (NYSE:NVRO) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. Research analysts predict that Nevro will post -2.6 EPS for the current year.

Institutional Trading of Nevro

Several large investors have recently added to or reduced their stakes in NVRO. Assenagon Asset Management S.A. grew its holdings in Nevro by 490.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after buying an additional 605,134 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 valued at $22,554,000 after purchasing an additional 431,136 shares during the last quarter. Norges Bank acquired a new position in shares of Nevro in the 4th quarter valued at $8,498,000. Millennium Management LLC lifted 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 purchasing an additional 168,573 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake 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 valued at $1,284,000 after purchasing an additional 148,200 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.