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

Investment analysts at StockNews.com started coverage on shares of Nevro (NYSE:NVRO) in a report issued on Friday. The firm set a “hold” rating on the medical equipment provider’s stock.

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

Nevro Stock Up 0.4 %

Shares of NYSE NVRO opened at $5.81 on Friday. Nevro has a 1 year low of $3.17 and a 1 year high of $14.70. The firm’s 50 day moving average price is $5.13 and its 200 day moving average price is $4.95. The firm has a market cap of $222.75 million, a P/E ratio of -3.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.15. The company had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. As a group, sell-side analysts anticipate that Nevro will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Western Standard LLC acquired a new position in Nevro during the 3rd quarter valued at about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nevro by 130.7% during 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 worth $5,590,000 after buying an additional 566,462 shares in the last quarter. Engaged Capital LLC raised its position in shares of Nevro by 29.5% during the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock worth $13,656,000 after buying an additional 557,000 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of Nevro during the 4th quarter worth about $1,976,000. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Nevro by 20.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after buying an additional 306,943 shares in the last quarter. 95.52% of the stock is 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.