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

Research analysts at StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a research report issued on Friday. The firm set a “hold” rating on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on shares of Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on shares of Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Morgan Stanley downgraded shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.43.

Nevro Stock Up 0.4 %

NYSE NVRO opened at $5.81 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The company’s 50 day simple moving average is $5.13 and its 200 day simple moving average is $4.95. Nevro has a 12 month low of $3.17 and a 12 month high of $14.70. The company has a market capitalization of $222.75 million, a P/E ratio of -3.07 and a beta of 0.94.

Nevro (NYSE:NVRO) last released its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) EPS for the quarter, topping 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 net margin of 16.54% and a negative return on equity of 23.52%. Equities research analysts expect that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVRO. Western Standard LLC acquired a new position in shares of Nevro during the third quarter valued at about $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. Engaged Capital LLC raised its position in shares of Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after buying an additional 557,000 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in shares of Nevro during the fourth quarter valued at about $1,976,000. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Nevro by 20.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock valued at $6,709,000 after buying an additional 306,943 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.