Nevro (NYSE:NVRO) Upgraded to Neutral by Citigroup

Citigroup upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a neutral rating in a research report report published on Friday morning, Marketbeat.com reports. The brokerage currently has $6.89 price target on the medical equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho decreased their target price on Nevro from $20.00 to $16.00 and set a neutral rating for the company in a research report on Thursday, April 11th. Robert W. Baird decreased their price target on shares of Nevro from $11.00 to $8.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Morgan Stanley reduced their price objective on Nevro from $14.00 to $9.00 and set an equal weight rating for the company in a research report on Monday, July 15th. JMP Securities lowered shares of Nevro from an outperform rating to a market perform rating in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group reduced their price target on shares of Nevro from $17.00 to $11.00 and set a hold rating for the company in a report on Wednesday, May 8th. Four analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, Nevro has a consensus rating of Hold and a consensus target price of $10.63.

Nevro Stock Down 5.8 %

Shares of NYSE NVRO traded down $0.35 during trading hours on Friday, hitting $5.66. The stock had a trading volume of 245,602 shares, compared to its average volume of 565,365. The firm’s 50-day moving average price is $8.82 and its two-hundred day moving average price is $11.87. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The company has a market capitalization of $207.89 million, a P/E ratio of -2.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.57 and a current ratio of 7.38.

Nevro (NYSE:NVRO) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.10. The company had revenue of $104.16 million during the quarter, compared to the consensus estimate of $107.11 million. Nevro had a negative net margin of 19.17% and a negative return on equity of 27.48%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.69) earnings per share. Analysts anticipate that Nevro will post -2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Nevro by 380.1% in the fourth quarter. Federated Hermes Inc. now owns 431,153 shares of the medical equipment provider’s stock valued at $9,278,000 after purchasing an additional 341,343 shares during the period. Semanteon Capital Management LP acquired a new stake in shares of Nevro in the fourth quarter valued at approximately $1,122,000. Truist Financial Corp boosted its stake in shares of Nevro by 27.3% in the fourth quarter. Truist Financial Corp now owns 38,496 shares of the medical equipment provider’s stock valued at $828,000 after buying an additional 8,247 shares during the period. Natixis Advisors L.P. grew its position in Nevro by 119.1% during the fourth quarter. Natixis Advisors L.P. now owns 28,294 shares of the medical equipment provider’s stock worth $608,000 after buying an additional 15,380 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Nevro by 29.9% in the 4th quarter. M&T Bank Corp now owns 40,639 shares of the medical equipment provider’s stock valued at $875,000 after acquiring an additional 9,345 shares in the last quarter. 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.