StockNews.com Begins Coverage on Nevro (NYSE:NVRO)

StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a research note published on Tuesday morning. The brokerage issued a hold rating on the medical equipment provider’s stock.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group upgraded Nevro from an “underperform” rating to a “hold” rating and lifted their target price for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Piper Sandler upgraded shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Canaccord Genuity Group raised their price objective on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Truist Financial reduced their target price on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Nevro presently has an average rating of “Hold” and a consensus price target of $5.36.

Nevro Price Performance

Nevro stock opened at $5.85 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. Nevro has a one year low of $3.17 and a one year high of $13.30. The firm has a market cap of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. The stock’s fifty day moving average price is $5.78 and its two-hundred day moving average price is $5.00.

Nevro (NYSE:NVRO) last announced its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $105.55 million for the quarter, compared to analysts’ expectations of $102.61 million. As a group, research analysts expect that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Nevro

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Nevro by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider’s stock worth $1,698,000 after purchasing an additional 11,369 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Nevro by 2,310.0% in the third quarter. Public Employees Retirement System of Ohio now owns 72,300 shares of the medical equipment provider’s stock worth $404,000 after purchasing an additional 69,300 shares during the last quarter. M&T Bank Corp raised its position in Nevro by 54.0% in the 3rd quarter. M&T Bank Corp now owns 78,954 shares of the medical equipment provider’s stock valued at $442,000 after buying an additional 27,681 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Nevro during the third quarter valued at about $63,000. Finally, SG Americas Securities LLC lifted its holdings in 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 acquiring an additional 4,406 shares during the period. 95.52% of the stock is currently owned by institutional investors.

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.