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

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

Several other brokerages have also recently issued reports on NVRO. Morgan Stanley cut Nevro from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research note on Monday, December 2nd. Citigroup reduced their price target on shares of Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and upped their price objective for the company from $4.50 to $5.85 in a report on Monday, February 10th. Truist Financial reduced their target price on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Piper Sandler raised shares of Nevro from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $6.00 to $5.85 in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Trading Down 0.1 %

Shares of Nevro stock opened at $5.78 on Friday. Nevro has a 12-month low of $3.17 and a 12-month high of $14.70. The firm’s 50 day simple moving average is $5.40 and its two-hundred day simple moving average is $4.93. 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 $221.60 million, a price-to-earnings ratio of -3.06 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) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $105.55 million for the quarter, compared to the consensus estimate of $102.61 million. Analysts predict that Nevro will post -2.44 EPS for the current year.

Institutional Investors Weigh In On Nevro

Several hedge funds have recently modified their holdings of the company. Amundi acquired a new position in Nevro in the 4th quarter worth about $30,000. Oxford Asset Management LLP acquired a new stake in Nevro in the fourth quarter valued at approximately $39,000. Virtu Financial LLC purchased a new stake in shares of Nevro in the third quarter valued at approximately $63,000. Corton Capital Inc. acquired a new position in shares of Nevro during the 4th quarter worth approximately $43,000. Finally, Headlands Technologies LLC purchased a new position in shares of Nevro during the 4th quarter valued at approximately $45,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.