Nevro (NYSE:NVRO) Given “Market Perform” Rating at JMP Securities

Nevro (NYSE:NVRO)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports.

Several other research analysts have also recently issued reports on NVRO. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Truist Financial dropped their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reduced their target price on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday. StockNews.com raised Nevro from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup cut their price target on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.10.

Nevro Stock Up 4.1 %

NVRO stock traded up $0.22 during trading on Tuesday, hitting $5.54. 962,791 shares of the company’s stock were exchanged, compared to its average volume of 554,784. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $7.53. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $206.53 million, a price-to-earnings ratio of -2.90 and a beta of 0.93. Nevro has a 52-week low of $4.38 and a 52-week high of $22.64.

Institutional Investors Weigh In On Nevro

Several hedge funds have recently modified their holdings of NVRO. Armistice Capital LLC boosted its holdings in shares of Nevro by 1.3% in the second quarter. Armistice Capital LLC now owns 3,672,000 shares of the medical equipment provider’s stock valued at $30,918,000 after acquiring an additional 48,000 shares in the last quarter. Millennium Management LLC lifted its position in Nevro by 21.4% in the second quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock valued at $8,054,000 after purchasing an additional 168,573 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Nevro by 27.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 929,348 shares of the medical equipment provider’s stock valued at $5,195,000 after purchasing an additional 200,885 shares in the last quarter. Renaissance Technologies LLC increased its position in Nevro by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 368,100 shares of the medical equipment provider’s stock worth $3,099,000 after purchasing an additional 17,600 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock worth $1,698,000 after buying an additional 11,369 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.