Nevro (NYSE:NVRO) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Nevro (NYSE:NVRO) in a research note published on Tuesday morning. The firm issued a hold rating on the medical equipment provider’s stock.

Several other brokerages have also recently commented on NVRO. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price target on shares of Nevro in a research note on Tuesday, November 12th. JMP Securities restated a “market perform” rating on shares of Nevro in a report on Tuesday, November 12th. Robert W. Baird increased their target price on shares of Nevro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Truist Financial decreased their price target on Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Piper Sandler upgraded Nevro from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $6.00 to $5.85 in a report on Friday, February 7th. Two 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, the company presently has an average rating of “Hold” and an average target price of $6.43.

Nevro Trading Up 0.3 %

Nevro stock opened at $5.73 on Tuesday. Nevro has a 12 month low of $3.16 and a 12 month high of $17.44. 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 stock has a market cap of $214.53 million, a P/E ratio of -3.03 and a beta of 0.91. The company’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $4.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVRO. Algert Global LLC lifted its position in shares of Nevro by 7.2% during the 4th quarter. Algert Global LLC now owns 61,233 shares of the medical equipment provider’s stock worth $228,000 after buying an additional 4,120 shares during the period. American Century Companies Inc. lifted its holdings in shares of Nevro by 12.9% during the fourth quarter. American Century Companies Inc. now owns 37,041 shares of the medical equipment provider’s stock valued at $138,000 after acquiring an additional 4,224 shares during the period. SG Americas Securities LLC boosted its stake in shares of Nevro by 34.6% in the 4th quarter. SG Americas Securities LLC now owns 17,126 shares of the medical equipment provider’s stock valued at $64,000 after purchasing an additional 4,406 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Nevro by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 21,595 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 4,971 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in Nevro by 59.9% in the fourth quarter. Virtu Financial LLC now owns 17,956 shares of the medical equipment provider’s stock valued at $67,000 after buying an additional 6,725 shares in the last quarter. 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.