StockNews.com Begins Coverage on Nevro (NYSE:NVRO)

StockNews.com assumed coverage on shares of Nevro (NYSE:NVRO) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

A number of other analysts have also recently weighed in on NVRO. Citigroup decreased their price target on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Morgan Stanley lowered Nevro from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Truist Financial lowered their price objective on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Trading Up 0.1 %

Shares of NVRO opened at $5.85 on Friday. Nevro has a twelve month low of $3.17 and a twelve month high of $14.43. The firm has a market capitalization of $224.28 million, a P/E ratio of -3.09 and a beta of 0.94. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $5.56 and its 200 day simple moving average is $4.96.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $102.61 million. On average, equities research analysts forecast that Nevro will post -2.44 earnings per share for the current year.

Institutional Trading of Nevro

Hedge funds and other institutional investors have recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC grew its position in shares of Nevro by 2.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock worth $24,547,000 after acquiring an additional 102,150 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Nevro by 20.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after purchasing an additional 306,943 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Nevro by 130.7% in the third 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 worth $5,590,000 after purchasing an additional 566,462 shares during the period. Western Standard LLC bought a new stake in Nevro during the third quarter valued at $5,473,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Nevro by 50.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock worth $4,096,000 after purchasing an additional 246,979 shares during the period. 95.52% of the stock is owned by institutional investors.

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.