Nevro (NYSE:NVRO) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Nevro (NYSE:NVRO) in a research report issued on Saturday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

A number of other research firms have also recently issued reports on NVRO. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and cut their price target for the company from $6.00 to $5.85 in a report on Friday, February 7th. Canaccord Genuity Group lifted their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Wells Fargo & Company cut their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and lifted their price target for the company from $4.50 to $5.85 in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.43.

Nevro Trading Down 0.1 %

NVRO stock opened at $5.78 on Friday. Nevro has a 1-year low of $3.17 and a 1-year high of $14.70. The firm has a market cap of $221.60 million, a P/E ratio of -3.06 and a beta of 0.94. The business’s 50 day moving average is $5.40 and its 200-day moving average is $4.94. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67.

Nevro (NYSE:NVRO) last announced 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. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The company had revenue of $105.55 million for the quarter, compared to analysts’ expectations of $102.61 million. Equities analysts anticipate that Nevro will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several institutional investors and hedge funds have recently modified their holdings of NVRO. Western Standard LLC acquired a new position in shares of Nevro in the 3rd quarter valued at approximately $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after purchasing an additional 566,462 shares during the period. Engaged Capital LLC grew its position in shares of Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after purchasing an additional 557,000 shares during the period. Cantor Fitzgerald L. P. acquired a new position in shares of Nevro in the 4th quarter valued at approximately $1,976,000. Finally, D. E. Shaw & Co. Inc. grew its position in shares of 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 purchasing an additional 306,943 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.