Nevro (NYSE:NVRO) Upgraded at StockNews.com

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

Other analysts have also issued research reports about the company. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Robert W. Baird cut their price objective on Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Citigroup decreased their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reduced their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Nevro currently has an average rating of “Hold” and a consensus price target of $10.55.

Nevro Stock Performance

Shares of NVRO opened at $5.51 on Friday. Nevro has a one year low of $4.38 and a one year high of $22.64. The business has a fifty day moving average of $5.31 and a 200 day moving average of $7.90. 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 firm has a market capitalization of $205.41 million, a P/E ratio of -2.59 and a beta of 0.94.

Nevro (NYSE:NVRO) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS 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 analyst estimates of $107.11 million. During the same quarter in the prior year, the firm earned ($0.69) EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nevro will post -2.6 EPS for the current year.

Institutional Investors Weigh In On Nevro

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Nevro in the 3rd quarter worth $71,000. Canada Pension Plan Investment Board increased its holdings in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 8,300 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Nevro by 14.1% during the 1st 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 buying an additional 1,430 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Nevro by 84.6% in the 2nd quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 11,323 shares during the last quarter. 95.52% of the stock is owned by 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.