Nevro (NYSE:NVRO) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Nevro (NYSE:NVRO - Get Free Report) in a research note issued to investors on Monday. The firm set a "hold" rating on the medical equipment provider's stock.

NVRO has been the subject of several other reports. Wells Fargo & Company decreased their price objective on shares of Nevro from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Piper Sandler upgraded Nevro from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $6.00 to $5.85 in a research note on Friday, February 7th. Canaccord Genuity Group upped their price objective on Nevro from $4.00 to $5.85 and gave the company a "hold" rating in a research note on Friday, February 7th. Citigroup decreased 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, Jefferies Financial Group raised Nevro from an "underperform" rating to a "hold" rating and upped their price target for the company from $4.50 to $5.85 in a research report on Monday, February 10th. 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 company. Based on data from MarketBeat, Nevro currently has an average rating of "Hold" and a consensus target price of $6.43.

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Nevro Stock Up 0.1 %

Shares of NYSE:NVRO traded up $0.01 during trading on Monday, hitting $5.85. The company's stock had a trading volume of 753,602 shares, compared to its average volume of 746,341. The company has a market capitalization of $224.32 million, a PE ratio of -3.09 and a beta of 0.81. Nevro has a fifty-two week low of $3.17 and a fifty-two week high of $13.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The stock's 50-day moving average price is $5.77 and its two-hundred day moving average price is $4.99.

Nevro (NYSE:NVRO - Get Free Report) 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. The company had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. As a group, sell-side analysts expect that Nevro will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Nevro

Several hedge funds and other institutional investors have recently modified their holdings of NVRO. D. E. Shaw & Co. Inc. lifted its position in Nevro by 20.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider's stock valued at $6,709,000 after purchasing an additional 306,943 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Nevro by 130.7% in the third 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 purchasing an additional 566,462 shares during the period. Cantor Fitzgerald L. P. bought a new stake in shares of Nevro during the fourth quarter valued at approximately $1,976,000. Nuveen Asset Management LLC boosted its position in shares of Nevro by 5.1% during the fourth quarter. Nuveen Asset Management LLC now owns 369,554 shares of the medical equipment provider's stock worth $1,375,000 after buying an additional 17,878 shares during the period. Finally, Northern Trust Corp grew its holdings in Nevro by 2.5% in the 4th quarter. Northern Trust Corp now owns 358,420 shares of the medical equipment provider's stock worth $1,333,000 after buying an additional 8,745 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

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.