Nevro (NYSE:NVRO) Coverage Initiated at StockNews.com

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

NVRO has been the topic of a number of other research reports. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Wells Fargo & Company dropped their price target on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group raised Nevro from an “underperform” rating to a “hold” rating and upped their price target for the company from $4.50 to $5.85 in a research report on Monday, February 10th. Truist Financial dropped their price target on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price target on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.43.

Nevro Stock Down 0.1 %

NVRO stock opened at $5.78 on Friday. The stock’s fifty day simple moving average is $5.40 and its two-hundred day simple moving average is $4.94. 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 1-year low of $3.17 and a 1-year high of $14.70. The stock has a market cap of $221.60 million, a P/E ratio of -3.06 and a beta of 0.94.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $105.55 million for the quarter, compared to analysts’ expectations of $102.61 million. Analysts expect that Nevro will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Nevro

Institutional investors have recently added to or reduced their stakes in the business. Amundi bought a new position in Nevro in the 4th quarter worth about $30,000. Oxford Asset Management LLP bought a new position in shares of Nevro during the 4th quarter valued at about $39,000. Virtu Financial LLC bought a new position in shares of Nevro during the 3rd quarter valued at about $63,000. Corton Capital Inc. bought a new position in shares of Nevro during the 4th quarter valued at about $43,000. Finally, Headlands Technologies LLC bought a new position in shares of Nevro during the 4th quarter valued at about $45,000. 95.52% of the stock is currently owned by institutional investors.

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.