Nevro (NYSE:NVRO) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a report issued on Monday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on NVRO. Wells Fargo & Company decreased their price target on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $6.00 to $5.85 in a report on Friday, February 7th. Truist Financial cut their target price on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup decreased their price target on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and upped their price objective for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nevro has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Stock Performance

Shares of NVRO stock opened at $5.85 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The company’s fifty day moving average price is $5.66 and its two-hundred day moving average price is $4.97. The firm has a market capitalization of $224.32 million, a P/E ratio of -3.09 and a beta of 0.81. Nevro has a 12 month low of $3.17 and a 12 month high of $13.84.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Nevro by 130.7% in the third 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 worth $5,590,000 after buying an additional 566,462 shares during the period. Cantor Fitzgerald L. P. bought a new position in shares of Nevro during the fourth quarter worth about $1,976,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Nevro by 20.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after acquiring an additional 306,943 shares during the period. Prudential Financial Inc. lifted its position in Nevro by 243.4% in the 4th quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock valued at $728,000 after purchasing an additional 138,700 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Nevro during the 4th quarter valued at about $435,000. 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.