Nevro (NYSE:NVRO) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Nevro (NYSE:NVRO) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $5.00 price target on the medical equipment provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 20.77% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $9.00 to $4.00 in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 price target on shares of Nevro in a report on Tuesday, November 12th. JMP Securities reaffirmed a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Finally, Robert W. Baird lifted their price objective on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.55.

Nevro Stock Down 2.8 %

Shares of Nevro stock opened at $4.14 on Tuesday. Nevro has a 1 year low of $3.95 and a 1 year high of $22.64. The business has a 50-day moving average of $4.89 and a two-hundred day moving average of $6.75. The company has a market capitalization of $155.13 million, a P/E ratio of -2.19 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76.

Nevro (NYSE:NVRO) last announced its quarterly earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.40. The company had revenue of $96.60 million during the quarter, compared to the consensus estimate of $93.09 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.65) earnings per share. As a group, equities analysts predict that Nevro will post -2.43 EPS for the current year.

Hedge Funds Weigh In On Nevro

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in Nevro by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock worth $497,000 after acquiring an additional 2,836 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after buying an additional 7,004 shares during the period. Blair William & Co. IL raised its stake in Nevro by 13.9% during the 2nd quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock worth $500,000 after buying an additional 7,250 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Nevro by 345.8% during 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 period. 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.