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

StockNews.com assumed coverage on shares of Nevro (NYSE:NVRO) in a report issued on Friday morning. The brokerage issued a hold rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on NVRO. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Truist Financial decreased their price target 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. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $4.50 to $5.85 in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nevro has an average rating of “Hold” and a consensus price target of $6.43.

Nevro Trading Up 0.1 %

Shares of Nevro stock opened at $5.80 on Friday. The stock has a market cap of $222.37 million, a P/E ratio of -3.07 and a beta of 0.94. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a 12-month low of $3.17 and a 12-month high of $14.70. The business’s 50 day moving average is $5.18 and its 200-day moving average is $4.94.

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

Institutional Trading of Nevro

Several large investors have recently bought and sold shares of the business. Algert Global LLC lifted its holdings in shares of Nevro by 7.2% in the fourth quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 4,120 shares during the last quarter. American Century Companies Inc. lifted its stake in Nevro by 12.9% in the 4th quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after purchasing an additional 4,224 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Nevro by 34.6% during the fourth quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 4,406 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Nevro by 29.9% during the fourth quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 4,971 shares in the last quarter. Finally, Virtu Financial LLC lifted its stake in shares of Nevro by 59.9% in the 4th quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock valued at $67,000 after acquiring an additional 6,725 shares during the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

Nevro Company Profile

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.