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

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

NVRO has been the subject of a number of other research reports. Morgan Stanley dropped their price objective on Nevro from $14.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Wells Fargo & Company lowered shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $13.00 to $5.50 in a research note on Wednesday, August 7th. Robert W. Baird reduced their price target on shares of Nevro from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered shares of Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.55.

Nevro Trading Up 2.0 %

NVRO stock opened at $5.51 on Friday. Nevro has a twelve month low of $4.38 and a twelve month high of $22.64. The stock has a market capitalization of $205.41 million, a price-to-earnings ratio of -2.59 and a beta of 0.94. The company has a quick ratio of 3.53, a current ratio of 4.77 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $7.90.

Nevro (NYSE:NVRO) last issued its quarterly earnings results 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 company had revenue of $104.16 million for 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 period in the prior year, the firm posted ($0.69) EPS. As a group, analysts anticipate that Nevro will post -2.6 earnings per share for the current year.

Institutional Trading of Nevro

A number of hedge funds have recently bought and sold shares of NVRO. Nisa Investment Advisors LLC raised its holdings in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 6,565 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Nevro in the 3rd quarter worth approximately $71,000. Canada Pension Plan Investment Board grew its position in shares of 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 buying an additional 8,300 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Nevro by 14.1% during 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 acquiring an additional 1,430 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 11,323 shares during the last quarter. Hedge funds and other 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.