Nevro (NYSE:NVRO) Research Coverage Started at StockNews.com

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

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of Nevro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $9.00 to $4.00 in a research report on Monday, December 2nd. Jefferies Financial Group raised shares of Nevro from an “underperform” rating to a “hold” rating and raised their price target for the company from $4.50 to $5.85 in a report on Monday, February 10th. Truist Financial decreased their price objective on Nevro from $7.00 to $4.70 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Citigroup dropped their target price on Nevro from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price objective on Nevro from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.43.

Nevro Stock Performance

NYSE NVRO opened at $5.80 on Friday. Nevro has a 1-year low of $3.17 and a 1-year high of $14.70. The company has a 50 day moving average of $5.18 and a 200-day moving average of $4.94. The company has a current ratio of 5.02, a quick ratio of 3.76 and a debt-to-equity ratio of 0.67. The firm has a market cap of $222.37 million, a price-to-earnings ratio of -3.07 and a beta of 0.94.

Nevro (NYSE:NVRO) last issued its quarterly earnings data on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.15. The firm had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. On average, equities analysts forecast that Nevro will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nevro

Several institutional investors have recently modified their holdings of NVRO. ArrowMark Colorado Holdings LLC increased its position in shares of Nevro by 2.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,391,258 shares of the medical equipment provider’s stock worth $24,547,000 after acquiring an additional 102,150 shares in the last quarter. Engaged Capital LLC lifted its holdings in shares of Nevro by 29.5% in the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider’s stock valued at $13,656,000 after purchasing an additional 557,000 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Nevro by 20.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider’s stock worth $6,709,000 after buying an additional 306,943 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Nevro by 130.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider’s stock valued at $5,590,000 after buying an additional 566,462 shares during the last quarter. Finally, Western Standard LLC bought a new stake in Nevro in the 3rd quarter valued at approximately $5,473,000. 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.