Nevro (NYSE:NVRO) Trading 5.5% Higher

Nevro Corp. (NYSE:NVRO)’s share price traded up 5.5% during mid-day trading on Tuesday . The company traded as high as $13.83 and last traded at $13.83. 44,301 shares traded hands during trading, a decline of 91% from the average session volume of 479,632 shares. The stock had previously closed at $13.11.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVRO shares. Robert W. Baird reduced their price target on shares of Nevro from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Truist Financial upped their price target on Nevro from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, December 22nd. Wells Fargo & Company dropped their price target on Nevro from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday. Citigroup cut their target price on shares of Nevro from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Finally, StockNews.com raised shares of Nevro from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.62.

Nevro Stock Performance

The firm has a market capitalization of $484.09 million, a PE ratio of -5.18 and a beta of 0.89. The firm’s fifty day moving average price is $15.04 and its 200 day moving average price is $17.09. The company has a current ratio of 6.37, a quick ratio of 4.94 and a debt-to-equity ratio of 0.72.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Wednesday, February 21st. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.35. The firm had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $115.93 million. Nevro had a negative net margin of 21.69% and a negative return on equity of 30.22%. On average, research analysts anticipate that Nevro Corp. will post -2.53 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP raised its position in shares of Nevro by 174.3% during the second quarter. Quarry LP now owns 1,012 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 643 shares during the last quarter. UBS Group AG raised its position in Nevro by 206.3% in the fourth quarter. UBS Group AG now owns 1,219 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 821 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Nevro by 26.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,162 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 668 shares in the last quarter. Assetmark Inc. raised its position in Nevro by 30.4% in the fourth quarter. Assetmark Inc. now owns 3,131 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 730 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Nevro in the third quarter worth about $132,000. Institutional investors and hedge funds 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.