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 research note published on Tuesday morning.

A number of other brokerages have also weighed in on NVRO. Robert W. Baird increased their target price on Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Piper Sandler dropped their price objective on shares of Nevro from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Citigroup decreased their target price on shares of Nevro from $6.89 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Wolfe Research upgraded shares of Nevro from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 8th. Finally, Truist Financial cut their price target on Nevro from $10.00 to $5.50 and set a “hold” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.10.

Nevro Stock Down 1.4 %

Shares of NYSE NVRO opened at $4.23 on Tuesday. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. The firm has a market cap of $158.50 million, a PE ratio of -2.24 and a beta of 0.93. The company’s fifty day simple moving average is $5.16 and its 200 day simple moving average is $7.25. Nevro has a 12-month low of $3.95 and a 12-month high of $22.64.

Nevro (NYSE:NVRO) last issued its earnings results on Monday, November 11th. The medical equipment provider reported ($0.41) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $93.09 million. During the same period last year, the business posted ($0.65) EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nevro

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Nevro by 1,788.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,932 shares of the medical equipment provider’s stock worth $58,000 after acquiring an additional 6,565 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Nevro during the 3rd quarter worth approximately $69,000. SG Americas Securities LLC bought a new stake in shares of Nevro in the 3rd quarter worth approximately $71,000. Quantbot Technologies LP lifted its stake in Nevro by 1,290.4% in the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider’s stock valued at $81,000 after purchasing an additional 13,381 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Nevro by 345.8% during the second quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 8,300 shares during the period. 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.