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

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

Several other brokerages also recently weighed in on NVRO. Morgan Stanley lowered their target price on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Robert W. Baird lowered their target price on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Piper Sandler reduced their price objective on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Finally, JMP Securities cut shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Three 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 stock presently has a consensus rating of “Hold” and an average target price of $10.55.

Nevro Trading Down 5.0 %

Shares of Nevro stock opened at $4.90 on Thursday. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. The company has a market capitalization of $182.49 million, a P/E ratio of -2.30 and a beta of 0.94. The company’s fifty day moving average is $5.37 and its two-hundred day moving average is $8.19.

Nevro (NYSE:NVRO) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.10. The business had revenue of $104.16 million for the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.69) earnings per share. Analysts forecast that Nevro will post -2.6 earnings per share for the current year.

Institutional Investors Weigh In On Nevro

A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its stake in Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after buying an additional 605,134 shares during the period. Millennium Management LLC grew its stake in Nevro by 21.4% during the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after buying an additional 168,573 shares during the period. Point72 Asset Management L.P. grew its stake in Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after buying an additional 148,200 shares during the period. Acadian Asset Management LLC grew its stake in Nevro by 154.1% during the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 146,276 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Nevro during the first quarter worth approximately $1,446,000. 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.