StockNews.com Upgrades Nevro (NYSE:NVRO) to “Hold”

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a report released on Tuesday.

A number of other research firms also recently commented on NVRO. Truist Financial cut their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. Piper Sandler cut their price target on Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. JMP Securities reiterated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Wells Fargo & Company cut Nevro from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.10.

Nevro Stock Performance

Shares of NYSE:NVRO opened at $4.53 on Tuesday. 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 has a 1 year low of $3.95 and a 1 year high of $22.64. The firm has a market capitalization of $169.75 million, a PE ratio of -2.35 and a beta of 0.93. The business’s 50 day moving average price is $5.13 and its 200-day moving average price is $7.16.

Nevro (NYSE:NVRO) last announced its 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 for the quarter, compared to analysts’ expectations of $93.09 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.65) EPS. As a group, equities research analysts expect that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nevro

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its holdings 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 buying an additional 6,565 shares during the period. Virtu Financial LLC acquired a new position in Nevro in the 3rd quarter valued at about $63,000. Intech Investment Management LLC purchased a new stake in Nevro during the third quarter worth about $69,000. SG Americas Securities LLC acquired a new stake in shares of Nevro during the third quarter worth about $71,000. Finally, Quantbot Technologies LP boosted its stake in shares of Nevro by 1,290.4% in the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after purchasing an additional 13,381 shares during the period. 95.52% of the stock is 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.