Nevro (NYSE:NVRO) Upgraded at StockNews.com

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

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Piper Sandler cut their target price on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lowered their price target on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company lowered Nevro from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $13.00 to $5.50 in a research report on Wednesday, August 7th. Finally, Citigroup lowered their price target on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, Nevro has an average rating of “Hold” and an average target price of $9.80.

Nevro Stock Performance

Shares of NVRO stock opened at $5.53 on Friday. The firm has a market capitalization of $206.16 million, a P/E ratio of -2.60 and a beta of 0.93. Nevro has a 12 month low of $4.38 and a 12 month high of $22.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.77 and a quick ratio of 3.53. The company’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $7.77.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.10. Nevro had a negative return on equity of 24.89% and a negative net margin of 18.17%. The firm had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter in the prior year, the firm posted ($0.69) earnings per share. Nevro’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts anticipate that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nevro during the third quarter worth $71,000. Canada Pension Plan Investment Board raised its stake in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in Nevro by 84.6% during the 2nd quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 11,323 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.