Nevro (NYSE:NVRO) Upgraded to “Hold” at StockNews.com

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

A number of other research analysts have also recently issued reports on the company. Truist Financial lowered their price objective on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped 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. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 8th. JMP Securities downgraded shares of Nevro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler reduced their price target on shares of Nevro from $12.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat, Nevro has an average rating of “Hold” and a consensus target price of $9.10.

Nevro Stock Performance

Shares of NVRO stock opened at $5.06 on Friday. The company’s fifty day moving average price is $5.24 and its 200-day moving average price is $7.48. The stock has a market cap of $188.64 million, a PE ratio of -2.55 and a beta of 0.93. 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 has a 12 month low of $4.38 and a 12 month high of $22.64.

Nevro (NYSE:NVRO) last posted its quarterly earnings data on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.40. Nevro had a negative net margin of 18.17% and a negative return on equity of 24.89%. The business had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.09 million. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Nevro’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that Nevro will post -2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Nevro

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in 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 acquiring an additional 605,134 shares during the period. Millennium Management LLC increased its position 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 valued at $8,054,000 after purchasing an additional 168,573 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of 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 worth $1,284,000 after purchasing an additional 148,200 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Nevro by 154.1% in the second quarter. Acadian Asset Management LLC now owns 241,186 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 146,276 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Nevro during the first quarter valued at approximately $1,446,000. 95.52% of the stock is currently owned by hedge funds and other 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.