Nevro’s (NVRO) Market Perform Rating Reiterated at JMP Securities

Nevro (NYSE:NVRO)‘s stock had its “market perform” rating restated by equities researchers at JMP Securities in a report released on Tuesday,Benzinga reports.

A number of other analysts also recently issued reports on NVRO. Piper Sandler cut their price target on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday. Wells Fargo & Company cut 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 note on Wednesday, August 7th. Canaccord Genuity Group lowered their price target on Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday. Morgan Stanley reduced their price objective on shares of Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, Robert W. Baird increased their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.10.

Nevro Trading Up 4.1 %

Shares of NYSE NVRO traded up $0.22 during trading on Tuesday, hitting $5.54. 962,791 shares of the company were exchanged, compared to its average volume of 554,784. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.53 and a current ratio of 4.77. Nevro has a 12-month low of $4.38 and a 12-month high of $22.64. The company has a fifty day moving average price of $5.25 and a 200-day moving average price of $7.53. The firm has a market capitalization of $206.53 million, a PE ratio of -2.90 and a beta of 0.93.

Institutional Investors Weigh In On Nevro

A number of hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in shares of Nevro by 490.7% during the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after acquiring an additional 605,134 shares during the period. Point72 Asset Management L.P. grew its stake in Nevro by 3,446.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock worth $1,284,000 after purchasing an additional 148,200 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Nevro by 154.1% during the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after purchasing an additional 146,276 shares during the period. Millennium Management LLC raised its position in Nevro by 21.4% in the 2nd 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Nevro by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after buying an additional 7,004 shares during the period. 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.