Nevro (NYSE:NVRO) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Nevro (NYSE:NVRO) in a research report released on Thursday morning. The firm issued a hold rating on the medical equipment provider’s stock.

A number of other research analysts also recently issued reports on the company. Truist Financial dropped their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Robert W. Baird increased their price objective on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Two investment 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.43.

Nevro Trading Down 0.3 %

NVRO opened at $5.78 on Thursday. The business’s 50-day simple moving average is $4.97 and its 200-day simple moving average is $4.94. The company has a market cap of $216.40 million, a P/E ratio of -3.06 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 has a one year low of $3.17 and a one year high of $15.25.

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

Institutional Trading of Nevro

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nevro by 130.7% in 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 valued at $5,590,000 after buying an additional 566,462 shares during the period. Western Standard LLC acquired a new stake in shares of Nevro in the 3rd quarter valued at approximately $5,473,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nevro by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock valued at $1,698,000 after buying an additional 11,369 shares during the period. Engaged Capital LLC increased its stake in Nevro by 29.5% in the 3rd quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after purchasing an additional 557,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Nevro by 50.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,717 shares of the medical equipment provider’s stock valued at $4,096,000 after purchasing an additional 246,979 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.