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 note published on Friday.

Several other equities research analysts have also recently issued reports on NVRO. JMP Securities cut Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $13.00 to $5.50 in a report on Wednesday, August 7th. Robert W. Baird decreased their price objective on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Piper Sandler decreased their price target on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup cut their price objective on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.80.

Nevro Price Performance

Nevro stock opened at $5.53 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. The company’s fifty day moving average price is $5.31 and its 200 day moving average price is $7.77. The stock has a market capitalization of $206.16 million, a P/E ratio of -2.60 and a beta of 0.93. Nevro has a 1 year low of $4.38 and a 1 year high of $22.64.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping 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 company had revenue of $104.16 million during the quarter, compared to analyst estimates of $107.11 million. During the same period in the previous year, the business earned ($0.69) EPS. Nevro’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nevro

Several hedge funds and other institutional investors have recently bought and sold shares of NVRO. Assenagon Asset Management S.A. increased its stake in Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after purchasing an additional 605,134 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Nevro by 3,446.5% during the second quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after acquiring an additional 148,200 shares during the period. Acadian Asset Management LLC lifted its position in Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock valued at $2,029,000 after purchasing an additional 146,276 shares during the period. Millennium Management LLC raised its stake in shares of Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after buying an additional 168,573 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after acquiring an additional 7,004 shares in the last quarter. 95.52% of the stock is currently 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.