Nevro (NYSE:NVRO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nevro (NYSE:NVRO) in a research note issued to investors on Friday. The firm issued a hold rating on the medical equipment provider’s stock.

Several other research analysts have also recently commented on the company. Canaccord Genuity Group boosted their price target on Nevro from $4.00 to $5.85 and gave the stock a “hold” rating in a research note on Friday, February 7th. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $6.00 to $5.85 in a research note on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $4.50 to $5.85 in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nevro has an average rating of “Hold” and a consensus target price of $5.36.

Nevro Trading Up 0.1%

NVRO stock opened at $5.85 on Friday. The company has a market cap of $224.32 million, a price-to-earnings ratio of -3.09 and a beta of 0.81. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $5.83 and a 200-day simple moving average of $5.10. Nevro has a 52 week low of $3.17 and a 52 week high of $11.65.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $102.61 million. On average, equities research analysts expect that Nevro will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Nevro during the third quarter valued at $63,000. SG Americas Securities LLC increased its stake in shares of Nevro by 34.6% in 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 last quarter. Ieq Capital LLC acquired a new position in Nevro in the 4th quarter worth about $46,000. Norden Group LLC bought a new position in Nevro during the fourth quarter valued at approximately $84,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Nevro by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 314,481 shares of the medical equipment provider’s stock worth $1,170,000 after purchasing an additional 10,806 shares in the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

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.