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

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

A number of other analysts also recently issued reports on NVRO. Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $6.00 to $5.85 in a research report on Friday, February 7th. Jefferies Financial Group upgraded shares of Nevro from an “underperform” rating to a “hold” rating and raised their target price for the stock from $4.50 to $5.85 in a report on Monday, February 10th. Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Truist Financial decreased their price objective on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company cut their target price on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.43.

Nevro Stock Up 0.3 %

Shares of NYSE NVRO opened at $5.79 on Friday. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. Nevro has a 12-month low of $3.17 and a 12-month high of $14.70. The firm’s 50-day moving average price is $5.43 and its 200-day moving average price is $4.94. The stock has a market capitalization of $221.98 million, a price-to-earnings ratio of -3.06 and a beta of 0.94.

Nevro (NYSE:NVRO) last issued 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. The business had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, equities research analysts anticipate that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Amundi purchased a new stake in shares of Nevro in the 4th quarter worth $30,000. Oxford Asset Management LLP bought a new stake in shares of Nevro in the fourth quarter valued at about $39,000. Corton Capital Inc. bought a new stake in shares of Nevro in the fourth quarter valued at about $43,000. Headlands Technologies LLC purchased a new stake in Nevro in the fourth quarter worth about $45,000. Finally, Ieq Capital LLC bought a new position in Nevro during the 4th quarter worth about $46,000. 95.52% of the stock is currently owned by hedge funds and other 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.