Nevro (NYSE:NVRO) Stock Rating Upgraded by StockNews.com

Nevro (NYSE:NVRO) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company cut shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $13.00 to $5.50 in a research report on Wednesday, August 7th. Citigroup decreased their price objective on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird decreased their price objective on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler reduced their price target on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, Nevro presently has a consensus rating of “Hold” and an average target price of $10.55.

Nevro Stock Performance

Shares of Nevro stock opened at $4.58 on Thursday. The company has a market cap of $170.74 million, a PE ratio of -2.15 and a beta of 0.94. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $5.33 and a 200-day moving average of $8.11. Nevro has a 1-year low of $4.38 and a 1-year high of $22.64.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.10. The business had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.69) EPS. As a group, equities research analysts forecast that Nevro will post -2.6 earnings per share for the current fiscal year.

Institutional Trading of Nevro

A number of large investors have recently modified their holdings of NVRO. Nisa Investment Advisors LLC boosted its position in shares of Nevro by 1,788.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 6,565 shares during the last quarter. SG Americas Securities LLC purchased a new position in Nevro in the 3rd quarter worth approximately $71,000. Canada Pension Plan Investment Board increased its stake in Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Nevro by 14.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 1,430 shares during the period. Finally, XTX Topco Ltd increased its stake in Nevro by 84.6% in the 2nd quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 11,323 shares during the period. Institutional investors own 95.52% of the company’s stock.

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.