Nevro (NYSE:NVRO) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

NVRO has been the subject of a number of other research reports. Piper Sandler lowered their target price on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective on shares of Nevro in a research report on Tuesday, November 12th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. Truist Financial lowered their price target on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Citigroup cut their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Nevro has an average rating of “Hold” and a consensus price target of $9.10.

Nevro Price Performance

Shares of NYSE NVRO opened at $4.53 on Tuesday. The stock’s 50-day moving average is $5.13 and its two-hundred day moving average is $7.16. 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 has a market cap of $169.75 million, a price-to-earnings ratio of -2.35 and a beta of 0.93. Nevro has a 1-year low of $3.95 and a 1-year high of $22.64.

Nevro (NYSE:NVRO) last released its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same period in the prior year, the firm earned ($0.65) earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts forecast that Nevro will post -2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in shares of Nevro by 1,788.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 6,565 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Nevro in the 3rd quarter worth $63,000. Intech Investment Management LLC purchased a new stake in Nevro in the 3rd quarter valued at approximately $69,000. SG Americas Securities LLC purchased a new stake in shares of Nevro in the third quarter valued at approximately $71,000. Finally, Quantbot Technologies LP raised its position in Nevro by 1,290.4% in the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock worth $81,000 after acquiring an additional 13,381 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.