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

Nevro (NYSE:NVRO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

NVRO has been the topic of a number of other research reports. Citigroup decreased their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Canaccord Genuity Group lowered their price objective on shares of Nevro from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Wolfe Research raised Nevro from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 8th. JMP Securities restated a “market perform” rating on shares of Nevro in a research report on Tuesday, November 12th. Finally, Truist Financial cut their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, Nevro has a consensus rating of “Hold” and a consensus price target of $9.10.

Nevro Trading Down 1.4 %

NVRO stock traded down $0.06 during trading on Tuesday, reaching $4.23. 662,873 shares of the stock were exchanged, compared to its average volume of 572,446. The business has a 50 day moving average price of $5.16 and a 200-day moving average price of $7.25. Nevro has a 1 year low of $3.95 and a 1 year high of $22.64. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $158.50 million, a price-to-earnings ratio of -2.24 and a beta of 0.93.

Nevro (NYSE:NVRO) last released its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.40. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $93.09 million. During the same period in the prior year, the firm posted ($0.65) earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. On average, research analysts predict that Nevro will post -2.43 earnings per share for the current year.

Institutional Trading of Nevro

Hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Nevro by 14.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,578 shares of the medical equipment provider’s stock worth $167,000 after acquiring an additional 1,430 shares in the last quarter. Blair William & Co. IL increased its stake in Nevro by 35.8% in the first quarter. Blair William & Co. IL now owns 52,154 shares of the medical equipment provider’s stock valued at $753,000 after purchasing an additional 13,750 shares during the last quarter. Acadian Asset Management LLC increased its stake in Nevro by 48.2% in the first quarter. Acadian Asset Management LLC now owns 94,910 shares of the medical equipment provider’s stock valued at $1,369,000 after purchasing an additional 30,863 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Nevro by 18.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock worth $651,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Nevro by 490.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock worth $6,134,000 after buying an additional 605,134 shares during the last quarter. Institutional investors and hedge funds 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.