Nevro (NYSE:NVRO) Stock Rating Upgraded by Jefferies Financial Group

Nevro (NYSE:NVRO) was upgraded by research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $5.85 price target on the medical equipment provider’s stock, up from their prior price target of $4.50. Jefferies Financial Group’s target price indicates a potential upside of 2.27% from the stock’s previous close.

Several other equities analysts have also recently commented on NVRO. JMP Securities restated a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Robert W. Baird boosted their price target on Nevro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research report on Tuesday, November 12th. Finally, Piper Sandler raised Nevro from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $6.00 to $5.85 in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Nevro has an average rating of “Hold” and a consensus price target of $6.43.

Nevro Stock Performance

NYSE:NVRO opened at $5.72 on Monday. The stock has a market cap of $214.33 million, a PE ratio of -3.03 and a beta of 0.91. Nevro has a fifty-two week low of $3.16 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.02 and a quick ratio of 3.76. The stock’s 50-day moving average is $4.32 and its two-hundred day moving average is $5.12.

Nevro (NYSE:NVRO) last announced its quarterly earnings data 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 net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.09 million. During the same period in the previous year, the firm posted ($0.65) earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Nevro will post -2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVRO. Prudential Financial Inc. increased its stake in shares of Nevro by 243.4% in the 4th quarter. Prudential Financial Inc. now owns 195,680 shares of the medical equipment provider’s stock valued at $728,000 after acquiring an additional 138,700 shares during the last quarter. Sei Investments Co. bought a new position in Nevro in the fourth quarter valued at approximately $77,000. American Century Companies Inc. boosted its holdings in shares of Nevro by 12.9% in the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 4,224 shares during the period. Virtu Financial LLC increased its position in shares of Nevro by 59.9% during the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 6,725 shares in the last quarter. Finally, Amundi acquired a new stake in shares of Nevro during the fourth quarter worth $30,000. 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.