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

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a report released on Thursday morning.

A number of other research analysts also recently weighed in on the company. Morgan Stanley cut their price objective on Nevro from $14.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Piper Sandler dropped their price target on Nevro from $12.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup dropped their price target on Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada dropped their price target on Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. downgraded Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.55.

Nevro Trading Down 5.6 %

Shares of NYSE NVRO opened at $4.58 on Thursday. Nevro has a one year low of $4.38 and a one year high of $22.64. The firm has a market capitalization 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 business has a 50-day moving average price of $5.33 and a two-hundred day moving average price of $8.07.

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

Institutional Trading of Nevro

Institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Nevro by 14.1% during the first 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 during the last quarter. Rhumbline Advisers increased its holdings in Nevro by 5.0% in the second quarter. Rhumbline Advisers now owns 58,995 shares of the medical equipment provider’s stock valued at $497,000 after purchasing an additional 2,836 shares during the last quarter. Nisa Investment Advisors LLC increased 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 valued at $58,000 after purchasing an additional 6,565 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Nevro by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after purchasing an additional 7,004 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in Nevro by 13.9% in the second quarter. Blair William & Co. IL now owns 59,404 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 7,250 shares during the last quarter. 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.