Nevro (NYSE:NVRO) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Nevro (NYSE:NVRO) from a sell rating to a hold rating in a research report report published on Friday.

Several other analysts have also recently weighed in on the stock. Truist Financial decreased their price objective on shares of Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Nevro from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 7th. Wolfe Research raised shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price target on shares of Nevro from $16.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup decreased their price target on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.55.

Nevro Price Performance

NYSE NVRO traded up $0.02 on Friday, reaching $5.53. The company’s stock had a trading volume of 352,032 shares, compared to its average volume of 547,445. The firm has a market cap of $206.17 million, a PE ratio of -2.60 and a beta of 0.94. The business has a 50-day moving average price of $5.31 and a 200 day moving average price of $7.84. Nevro has a 52 week low of $4.38 and a 52 week high of $22.64. The company has a current ratio of 4.77, a quick ratio of 3.53 and a debt-to-equity ratio of 0.66.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.10. The firm had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $107.11 million. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.69) earnings per share. Sell-side analysts expect that Nevro will post -2.6 EPS for the current year.

Institutional Trading of Nevro

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in shares of Nevro by 1,788.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after acquiring an additional 6,565 shares in the last quarter. SG Americas Securities LLC bought a new position in Nevro during the 3rd quarter worth about $71,000. Canada Pension Plan Investment Board raised its stake in shares of Nevro by 345.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Nevro by 14.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 1,430 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in shares of Nevro by 84.6% during the second quarter. XTX Topco Ltd now owns 24,711 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 11,323 shares during the period. 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.