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

Equities researchers at StockNews.com began coverage on shares of Nevro (NYSE:NVRO) in a report released on Sunday. The firm set a “hold” rating on the medical equipment provider’s stock.

NVRO has been the subject of a number of other reports. Canaccord Genuity Group raised their target price on Nevro from $4.00 to $5.85 and gave the company a “hold” rating in a report on Friday, February 7th. Truist Financial lowered their price objective on shares of Nevro from $7.00 to $4.70 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and upped their target price for the stock from $4.50 to $5.85 in a research note on Monday, February 10th. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Finally, Wells Fargo & Company cut their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Nevro has a consensus rating of “Hold” and a consensus target price of $6.43.

Nevro Price Performance

Nevro stock opened at $5.85 on Friday. The company’s 50 day simple moving average is $5.59 and its 200-day simple moving average is $4.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. Nevro has a 1 year low of $3.17 and a 1 year high of $14.43. The company has a market capitalization of $224.28 million, a price-to-earnings ratio of -3.09 and a beta of 0.94.

Nevro (NYSE:NVRO) last announced its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. As a group, equities research analysts expect that Nevro will post -2.44 earnings per share for the current year.

Institutional Trading of Nevro

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi acquired a new position in shares of Nevro during the 4th quarter worth about $30,000. Oxford Asset Management LLP acquired a new position in Nevro in the fourth quarter valued at approximately $39,000. Corton Capital Inc. acquired a new position in Nevro in the fourth quarter valued at approximately $43,000. Headlands Technologies LLC purchased a new position in Nevro in the fourth quarter valued at approximately $45,000. Finally, Ieq Capital LLC acquired a new stake in Nevro during the fourth quarter worth approximately $46,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.