Nevro’s (NVRO) Market Perform Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Nevro (NYSE:NVRO) in a report published on Tuesday morning,Benzinga reports.

A number of other analysts have also recently commented on NVRO. Robert W. Baird lifted their price target on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $7.00 target price on shares of Nevro in a report on Tuesday. Piper Sandler dropped their target price on Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered Nevro from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.10.

Nevro Price Performance

Shares of NVRO stock opened at $4.07 on Tuesday. The company has a quick ratio of 3.53, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a 12-month low of $4.00 and a 12-month high of $22.64. The business’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $7.42.

Nevro (NYSE:NVRO) last released its quarterly earnings results 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 company had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $93.09 million. During the same period last year, the business posted ($0.65) earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. As a group, analysts expect that Nevro will post -2.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVRO. Assenagon Asset Management S.A. grew its position in shares of Nevro by 490.7% in the second quarter. Assenagon Asset Management S.A. now owns 728,463 shares of the medical equipment provider’s stock valued at $6,134,000 after purchasing an additional 605,134 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Nevro by 3,446.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 152,500 shares of the medical equipment provider’s stock valued at $1,284,000 after buying an additional 148,200 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nevro by 154.1% in the 2nd quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after acquiring an additional 146,276 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Nevro by 21.4% during the 2nd quarter. Millennium Management LLC now owns 956,542 shares of the medical equipment provider’s stock worth $8,054,000 after acquiring an additional 168,573 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Nevro by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,016 shares of the medical equipment provider’s stock valued at $651,000 after acquiring an additional 7,004 shares during the last quarter. Hedge funds and other institutional investors 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.